No new tax in Navi Mumbai civic body budget, Rs 5,685 cr allocated for expenditure

Thane, Feb 25 (PTI) The Navi Mumbai Municipal Corporation (NMMC) on Tuesday approved its budget of Rs 5709.95 crore for the financial year 2025-26 which proposed to boost revenue by incorporating properties outside the tax net while strengthening infrastructure.

As expected, no new taxes were imposed in the Budget as civic elections may be held in the coming months.

The maximum allocation of Rs 5,684.95 crore is made for expenditure, leaving a surplus of Rs 25 crore.

NMMC commissioner and administrator Kailas Shinde said the Budget focuses on improving the livability index of Navi Mumbai while ensuring comprehensive development across key sectors of education, health, civic facilities, environment, and infrastructure for the disabled.

Addressing reporters, Shinde said the decision to not impose new taxes is not influenced by the upcoming civic elections but is aimed at enhancing public welfare.

Shinde underscored the civic body's strategy to boost revenue, particularly by incorporating properties outside the tax net.

He said values of properties in areas like Palm Beach Road have surged from Rs 2.5 lakh per square foot to Rs 5 lakh, largely due to the upcoming international airport.

"This economic growth is expected to attract high-end infrastructure, including luxury hotels, further enhancing municipal revenue," he added.

Shinde said the budget is designed with the vision of transforming Navi Mumbai into a major development centre.

"The city will witness significant industrial and commercial expansion due to the upcoming international airport. It is our responsibility to create the necessary infrastructure to support this growth," he added.

He said infrastructure development, including financial reform to ensure sustainable growth, employment generation through industrial and commercial expansion, and quality education by enhancing infrastructure and standards are the key areas of the Budget.

It emphasises easy transportation with improved public transit and road connectivity, strengthening healthcare through upgraded medical services, and sustainable water management for efficient and eco-friendly distribution.

Shinde said the NMMC aims to make Navi Mumbai a model city that balances growth with environmental and social well-being. PTI COR NSK

Source: PTI