India, Oct. 16 -- The sharp decline of nearly Rs.13,785 crore-from approximately Rs.91,690 crore to Rs.77,905 crore-in the Brihanmumbai Municipal Corporation's (BMC) fixed deposits (FD) since 2021 has raised concerns about how the civic body's reserves are being utilised and if the corporation will be able to meet its future financial obligations without facing a liquidity crunch. BMC's ongoing infrastructure commitments are estimated at Rs.2.34 lakh crore.

Given these circumstances, Congress group leader Ashraf Azmi demanded a comprehensive white paper from municipal commissioner Ashwini Bhide on Thursday, on the BMC's financial position from 2021-22 to September 2026. He has sought an account of the utilisation of reserves, authorisati...