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Brihanmumbai Municipal Corporation (BMC)

Also known as the Municipal Corporation of Greater Mumbai, it is considered the richest in Asia. Over the years it has accumulated a massive Rs.75, 538 crores in reserves. Biggest contributors to it have been taxes – GST (before the implementation of GST it raked in the moolah from “octroi”) and property tax. Other sources that has helped fatten its bank balance are water and sewerage charges, receipts from development of extra floor space and capital gains on investments. Areas where it funnels a large chunk of its earnings are of course local infrastructure such as sewage systems, bridges, roads, water supply projects and others. In fact, BMCs expenditure is double that of Goa and more than the GDPs of many North Eastern states.

Richest municipal corporations in India

Our cities with crumbling infrastructure may mirror a sorry state of affairs, but did you know that some of our municipal corporations are the richest in Asia? Don’t believe it? Just flip through our slideshow to find out the staggering cash pile on which they are sitting and how they are utilizing it.