Navi Mumbai’s ₹5,709.95 Cr Budget Unveiled: Mega Infra Push, No New Taxes & Big Revenue Boost!

1. Budget Overview & Revenue Strategy – NMMC approved a ₹5,709.95 crore budget for FY 2025-26, focusing on boosting revenue by bringing untaxed properties into the tax net while avoiding new tax impositions. 2. No New Taxes Before Elections – Despite the upcoming civic elections, the budget refrains from introducing new taxes, with officials stating that the decision is based on public welfare, not political considerations. 3. Major Expenditure & Surplus – Out of the total budget, ₹5,684.95 crore is allocated for expenditure, leaving a modest surplus of ₹25 crore for contingencies and additional developments. 4. Infrastructure & Development Focus – The budget prioritizes large-scale infrastructure development, including better public transport, road connectivity, sustainable water management, and enhanced civic amenities. 5. Surging Property Values & Revenue Growth – Property rates in prime areas like Palm Beach Road have doubled due to the upcoming international airport, attracting luxury developments that will further boost municipal revenues. 6. Key Sectors of Investment – Significant funds will be directed toward education, healthcare, environmental sustainability, and infrastructure for disabled individuals to enhance Navi Mumbai’s livability index. 7. Vision for Navi Mumbai’s Future – The budget aims to position Navi Mumbai as a major development hub by ensuring industrial and commercial expansion, financial reforms for sustainable growth, and improved quality of life for residents. https://money.rediff.com/amp/news/market/navi-mumbai-budget-no-new-taxes-rs-5-685-cr-for-expenditure/22679120250225