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This is an archive article published on February 3, 2024

BMC allocates Rs 800 crore for BEST

Additionally, apart from the financial aid provided to BEST, BMC is set to contribute an additional Rs 128.65 crore as viability funding for the procurement of 2,000 electric buses.

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BMC, BMC BEST allocations, Brihanmumbai Municipal Corporation, Rs 800 crore for BEST, Mahatrashtra public transport, infrastructure development, procurement of equipment, loan repayment, indian express newsThe budget specifies that the Urban Development Department has urged the municipal corporation to cover 5% of the total viability gap of the Rs 2573 crore project for purchasing electric buses. Funding will be sourced with 70% from the World Bank, 25% from the government of Maharashtra, and the remaining 5% from BMC.

The Brihanmumbai Municipal Corporation (BMC) has allocated a budget of Rs 800 crore for the BEST (Brihanmumbai Electric Supply & Transport) public transport undertaking in the fiscal year 2024-2025.

This funding will cover various needs, including infrastructure development, procurement of equipment, loan repayment, wet lease of new buses, pay revisions, day-to-day expenses, Integrated Traffic Management System Project, Diwali bonus payments to employees, gratuity, and other obligations to pensioners, as well as electricity dues.

Additionally, apart from the financial aid provided to BEST, BMC is set to contribute an additional Rs 128.65 crore as viability funding for the procurement of 2,000 electric buses.

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The budget specifies that the Urban Development Department has urged the municipal corporation to cover 5% of the total viability gap of the Rs 2573 crore project for purchasing electric buses. Funding will be sourced with 70% from the World Bank, 25% from the government of Maharashtra, and the remaining 5% from BMC.

Meanwhile, the BMC has projected a budget expenditure of Rs 468.39 crore and a revenue income of Rs 5.99 crore for the transport department in the current financial year. ENS

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