A STUDY OF FINANCIAL SOLVENCY OF BRIHANMUMBAI MUNICIPAL CORPORATION

In the era of Post-Globalization, there is a rapid growth in urbanization. Similarly, migration towards cities
for better amenities, facilities, education, health-care and sources income trigger increase in urban
population. Subsequently, this increasing population invited higher and wider local governing bodies,
shifting from municipalities to municipal corporations. Maharashtra is one of the leading states in India
with industrial, economic, financial, agricultural, educational and cultural advancements. The recent times
showcase an abundant rise in urban population with formations of cosmopolitan demographic spaces.
Approximately 377 million Indians including about 31% of the country’s population live in urban arena
with annual average addition of 8 million as per the census of 2011. In Maharashtra, there are 27
Municipal Corporations which is highest number than other states. The suburbs of Mumbai, Thane and the
cities annexing to these are over populated. As a result, along with Brihanmumbai Municipal Corporation,
many other cities also had to convert their municipalities into Municipal corporations.This paper shows a
trend analysis of revenue income and expenditure with growth rate which indicate the continuous
development of services provided through expenses and collecting revenue from various sources which
reflect increase in tax payment and income to BMC.