BMC dips into own its FDs for Rs 10,564 cr 'loan'

BMC will dip into its fixed deposits and withdraw Rs 10,564 crore as loan to meet its increasing expenditure. The 2020-21 estimated expenditure was Rs 33,441 crore, which has been increased to Rs, 39,039 (17%) for the coming financial year. Instead of raising money from the market through bonds, the administration will take an internal interest-free loan. BMC has fixed deposits of Rs 77,635 crore.

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