India's Richest Civic Body Earned Less, But Budget Up By 2,700 Crores | Read
The country's richest civic body, the Brihanmumbai Municipal Corporation (BMC), revealed its budget 2020-21 on Tuesday to the tune of Rs 33,441 crore or 8.95 per cent more than last year's budget, which was Rs 30,692 crore. Due to the slump in real estate and exemption of property tax to residential homes with carpet area up to 500 sqft - a state government directive, which was the election promise of the Shiv Sena - the BMC showed a deficit of Rs 335 crore in property tax collection.
