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Bulk of the revenue that has been
generated by MMRDA is from the disposal of plots in Bandra-Kurla
Complex on lease basis and by realisation of development charges.
So far, more than Rs. 17,000 million have been received by
MMRDA through this process.
MMRDA created MUDP Revolving Fund primarily to finance
developmental activities of the local authorities. This fund has been generated
by depositing 45% of the loan repayment by the implementing agencies of
MUDP.
MMRDA is also operating a Reserve Fund to finance the infrastructure
projects in MMR. This fund has been created by retaining some portion of
sale proceeds from Bandra-Kurla Complex and interest earned on it.
In addition, MMRDA extends loan facilities from its above mentioned resources
for Infrastructure Financing in MMR. Currently water supply
schemes funded through this arrangement are under implementation.
A centrally sponsored Mega City Scheme for Mumbai was launched
by the Government of India in the Eighth Five Year Plan. Efforts to extend
this during the Nineth Five Year Plan period are in progress. The scheme
is being implemented by the Corporations in MMR and the transport undertaking
in Mumbai. MMRDA is the nodal agency for the scheme.
For Promoting Environment and Heritage Conservation in MMR,
two special funds namely, 'Heritage Fund' and 'Environment Fund' each of
Rs. 50 million has been created by MMRDA. Two separate Societies are established
for operating these funds. |
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