Mumbai: Politicians welcome move to break FDs, say BMC not money-making organization

07:25 AM Feb 03, 2018 | Sweety Adimulam

Mumbai: The civic commissioner Ajoy Mehta on Friday announced for the first time that it has decided to use Fixed Deposit (FD) money on major projects. Out of Rs 70,000 crore the Brihanmumbai Municipal Corporation (BMC) plans to withdraw Rs 3,000 crore for the coastal road project, Goregaon Mulund Link Road(GMLR). The opposition and the ruling party politicians have applauded the move.

Samajwadi Party (SP) corporator Rais Shaikh stated BMC has taken a wise decision. Shaikh added, “BMC is left with no other option as till I finish my tenure the FD amount will go up by one lakh rupees. Therefore, it is a wise decision to utilise the money on people benefit projects.”


BJP corporator Manoj Kotak took credit for the move. Kotak stated, “It was a long pending demand of our party that FD funds be utilised on big projects. Our party’s demand is now being implemented. Also, the civic corporation is not a money making organisation to keep FD funds.”


Corporator Yashwant Jadhav, of the ruling Shiv Sena, argued that if BMC withdraws Rs 3,000 crore out of Rs 70,000 it doesn’t make much of a difference. “The FD money is for Mumbaikars and therefore as promised by Sena we have fulfilled all our claims,” he said.

Also read: BMC Budget 2018: Good news for Mumbaikars as no new taxes announced

There were some dissenting voices though. Leader Of Opposition (LOP) Ravi Raja pointed, out that if the BMC has to break their FD to start work on big projects suggests that the civic body was falling short of money. However, he also then went on to say that the FD money was meant for the public and it should be used for the their benefits only.

He also accused BMC of not helping Brihanmumbai Electric Supply and Transport (BEST), the transport undertaking body. He said, “Not a single penny has been given to BEST, which is facing major financial crises, but it is willing to break FD money to spend on other projects.

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