India's Richest SCAM : With 81,000 crores, Why does Mumbai have Terrible Infrastructure?
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VIDEO INTRODUCTION:
The city of Mumbai is one of the richest and yet one of the most messed up cities in the world!! BMC is so rich that as of FY25, they have 81,000 crores in their reserves, and merely due to their fixed deposits they earn ₹2,200 crore in just interest!! As a result, the yearly budget for the city kept on growing. It crossed ₹50,000 crore for the first time in 2023-24. Then ₹59,954 crore in 2024-25. ₹74,427 crore in 2025-26. And ₹80,952 crore, to be exact, in FY26-27!! With this much money, our city should look like Singapore or Tokyo, right?? At least we can have decent roads!!! Well, we all know the story!! So do you realise, Mumbai is not a poor city, it is a rich city with poverty-grade problems!! So as a Mumbaikar, I was furious and curious to understand: what the hell are these BMC folks doing with 80,000 crores in budget? Why do we not have basic roads and infrastructure in spite of having so much money? And what exactly does the govt of Maharashtra need to do to change the fortune of Mumbai?
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✅Study Materials:
https://indianexpress.com/article/cities/mumbai/subsidies-mega-projects-shrinking-reserves-bmcs-financial-squeeze-10483630/#:~:text=the%20Mumbai%20civic%20body%20has%20financial%20reserves%20of%20over%20Rs%2081%2C774%20crore%20for%20the%20year%202025%2D26.
https://www.freepressjournal.in/mumbai/maharashtra-assembly-devendra-fadnavis-tables-cag-report-over-alleged-12000-crore-scam-by-bmc#:~:text=CAG%20had%20conducted%20audits%20of%20nine%20departments.%20It%20is%20not%20an%20overall%20audit%20of%20BMC%20but%20that%20of%20works%20of%20Rs12%2C000%20crore
https://www.nationalheraldindia.com/national/cag-report-pulls-up-bmc-on-transparency-fund-utilisation-flags-non-sharing-of-covid-19-expenditure-records#:~:text=the%20audit%20observed%20that%20BMC%20awarded%2020%20works%20across%20two%20departments%20valuing%20Rs%20214.48%20crore%20without%20inviting%20tenders
https://www.mid-day.com/mumbai/mumbai-news/article/mumbai-cag-audit-report-indicts-bmc-for-irregularities-23277301#:~:text=In%2013%20works%20costing%20Rs%203%2C355.57%20crore%20across%20three%20departments%2C%20third%2Dparty%20auditors%20were%20not%20appointed%20to%20assess%20the%20works.
https://www.business-standard.com/article/current-affairs/mumbai-needs-single-planning-authority-for-pothole-free-roads-bmc-to-hc-122093001024_1.html#:~:text=BMC%20to%20HC-,Mumbai%20needs%20%27single%20planning%20authority%27%20for%20pothole%2Dfree%20roads%3A%20BMC%20to%20HC,-Mumbai%20cannot%20be
Special thanks to @thebanat for the clip used in this video.
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