MMRDA's Rs 48,000 Cr Budget Approved 75% For Metro, Flyovers

(MENAFN- AsiaNet News)

MMRDA's Rs 48,000 Crore Budget Approved

Maharashtra Deputy CM Eknath Shinde on Monday said that the Mumbai Metropolitan Region Development Authority's (MMRDA) budget of Rs. 48 thousand crores has been approved today, with 75 per cent allocated for Metro and flyover development. "The MMRDA for this year is Rs 48 thousand crores, and it has been approved today, first surplus budget since 2017-18... The graph shows significant improvement. Of the funds being spent, 75 per cent is allocated to Metro and road flyovers to provide significant relief and to work to fulfil PM Modi's resolve of Viksit Bharat by 2047..." Dy CM said.

Focus on Future Projects and Job Creation

Further, speaking on the future projects, Shinde stated that two new dams, Poshir and Shillar, are in the process of development. There is a focus on environment, infrastructure, and job creation. "Along with planning of drinking water and traffic arrangements, there is also planning of the environment. Environment is our pro-environmental development; hence, it has been given priority. In this, 2 dams, Poshir and Shillar, will be constructed; their work will also start soon. MMRDA has also made a provision of Rs. 500 crore for Kalu Dam.... Due to these future projects, people living in Mumbai and the Mumbai Metropolitan Region (MMR) will get a lot of relief. Tersari Mumbai is being built near Navi Mumbai Airport... development will take place there too through MMRDA... More job opportunities will arise..." he said.

MMRDA Secures USD 96 Billion Investment at WEF

Meanwhile, MMRDA achieved a historic milestone at the World Economic Forum (WEF) Annual Summit 2026 in Davos, securing investment commitments worth USD 96 billion (Rs 8.73 lakh crore) on the very first day through the signing of 10 major Memoranda of Understanding (MoUs). The landmark agreements are expected to generate approximately 9.6 lakh direct and indirect jobs, positioning the Mumbai Metropolitan Region (MMR) as the talent capital of India and Asia. The MoUs were signed in the presence of Chief Minister Devendra Fadnavis, with Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA, representing the authority. The agreements span infrastructure, logistics, fintech, digital ecosystems, sports, education, sustainability, and advanced urban technologies.

Key MoU with SBG Group

MMRDA signed an MoU worth USD 45 billion with SBG Group to develop integrated logistics, industrial and digital infrastructure hubs across MMR, which is expected to generate 4.5 lakh jobs over 10 years. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

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