Chief Minister Eknath Shinde has ordered the release of funds collected for key infrastructure projects, including all Metro projects, by the Mumbai Metropolitan Region Development Authority (MMRDA). These funds were collected by the Brihanmumbai Municipal Corporation (BMC).
The CM also ordered that the additional stamp duty of one per cent earmarked for the projects of the Durban Municipality should be given to MMRDA by the Department of Residential Development (UD).
The order follows a letter from the Department of Urban Development asking the BMC to keep Rs 1,440 million from the funds collected for its projects, such as the expansion of the coastal road and the Goregaon-Mulund Link Road. Reports indicate that the BMC wanted 50 percent of the money collected through its programs.
The MMRDA official observed that allowing the BMC to keep the funds earmarked for Metro projects was not appropriate. The concern was raised in the 158th authority meeting chaired by the CM recently, who is also the chairman of MMRDA, which led to an immediate order for full disbursement of funds.
The official added that the Urban Development Secretary should now implement these orders and should give reasons if not done. At present, the MMRDA estimates that around Rs 4,000 crore has been collected as one per cent stamp duty by the government, while the BMC manages around Rs 3,400 crore for critical infrastructure projects.
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