GG News Bureau
Mumbai, 5th Feb. The Brihanmumbai Municipal Corporation (BMC) unveiled a record ₹74,427.41 crore budget for the financial year 2025-26, marking it as the largest budget in its history. BMC Commissioner Bhushan Gagrani emphasized that the budget is aimed at fostering innovation, inclusivity, and sustainability to improve civic services for Mumbai’s residents.
A standout feature of this year’s budget is the proposal for the ambitious “Mumbai Eye,” a giant Ferris wheel inspired by the London Eye. The BMC plans to construct this iconic attraction under a public-private partnership (PPP) model. While the exact location and budget allocation are yet to be determined, the project is expected to occupy 2-3 acres of land and offer air-conditioned, sealed passenger capsules with panoramic views of the city.
This project first came to light in 2008 through Shiv Sena leader Ravindra Waikar’s suggestion. The Mumbai Metropolitan Region Development Authority (MMRDA) proposed its construction at the Bandra Reclamation promenade in 2022, but the plan was paused after facing opposition from local residents.
The BMC’s budget focuses on six key pillars: fiscal discipline and sustainability, enhancement of infrastructure and services, quality education, a clean and sustainable environment, social initiatives, and governance efficiency. The budget underscores the corporation’s commitment to creating a brighter future for Mumbai while providing essential civic amenities at minimal costs to citizens.
The post BMC Presents ₹74,000 Crore Budget for 2025-26; Proposes ‘Mumbai Eye’ Ferris Wheel Project appeared first on Global Governance News- Asia's First Bilingual News portal for Global News and Updates.
