Mumbai, Feb 16
The Mumbai Metropolitan Region Development Authority on Monday presented its Budget for the financial year 2026-27 with a total outlay of Rs 48,072.57 crore, marking its first surplus Budget since 2017-18.
MMRDA had a deficit of Rs 7,468 crore in 2024-2025. In just three years, the authority has achieved a surplus of Rs 17 lakh, thus signalling a decisive financial turnaround.
The surplus is the outcome of structured land monetisation, strengthening of the Urban Transport Fund (UTF), improved project-linked revenues, and capital mobilisation through international partnerships and institutional financing.
"The Budget reflects not merely fiscal balance, but strengthened institutional discipline, improved revenue mobilisation, calibrated borrowing, and enhanced global credibility. Even while expanding one of the largest infrastructure pipelines in India, MMRDA has restored fiscal equilibrium, reinforcing its position as India's most financially stable regional development authority," said the release.
Of the Rs 42,026.14 crore, 87.42 per cent of total expenditure has been allocated to development projects and schemes, underlining MMRDA's commitment to capital deployment at scale.
The proposed Budget outlay of Rs 48,072.57 crore is 58.57 per cent higher than the revised estimate of Rs 30,316.18 crore for 2025-26.
Proposed expenditure of Rs 48,072.40 crore is 53.52 per cent higher than the revised estimate of Rs 31,313.13 crore for the previous year.
From FY 2017-18 to FY 2026-27, the MMRDA recorded deficits across most years before achieving fiscal balance with a marginal surplus of Rs 0.17 crore in FY 2026-27.
The 2026-27 Budget accelerates a coordinated regional transformation strategy integrating mobility, economic decentralisation, water security, climate resilience, and housing reform.
According to MMRDA, this Budget is more than a financial statement; it serves as a roadmap for transforming the Mumbai Metropolitan Region into a globally competitive, investment-ready, and sustainable urban ecosystem.
Chief Minister Devendra Fadnavis said, "MMRDA's first surplus Budget since 2017-18 marks a defining institutional milestone. This Budget reflects global investor confidence and a long-term infrastructure-led growth vision. It positions the Mumbai Metropolitan Region as a modern, investment-ready and globally competitive urban region."
Deputy Chief Minister and Chairman, MMRDA Eknath Shinde said, "With 87 per cent allocation towards projects, this Budget demonstrates focused, accountable governance. Under the Growth Hub concept, MMRDA has set a benchmark for structured regional expansion."
MMRDA Metropolitan Commissioner Sanjay Mukherjee stated that the surplus Budget is the outcome of fiscal discipline, calibrated capital mobilisation, and sustained infrastructure delivery.
"We are simultaneously expanding connectivity, decentralising growth through Mumbai 3.0, and strengthening regional sustainability. This Budget marks a transition from financial stress to financial stability while maintaining development momentum at scale," he added.
MMRDA continues to expand high-capacity underground mobility infrastructure to decongest the urban core and enable faster inter-city travel. The projects form the backbone of a long-term decongestion and east-west connectivity strategy.
The Budget strengthens the multi-ring road strategy to redistribute traffic flows and support economic growth corridors.
The Budget also advances economic decentralisation through structured urban expansion under the Growth Hub framework.
"The Rs 4,000 crore allocation to Mumbai 3.0 marks the operationalisation of MMR's next urban frontier designed to decongest Mumbai, attract global capital, and create structured employment ecosystems aligned with NITI Aayog's Growth Hub concept," said the release.
- IANS
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