India, April 7 -- After extensive deliberations and discussions, the BMC standing committee has approved Mumbai's largest-ever municipal budget of Rs.80,952 crore, marking a significant financial roadmap for the city's development and civic works.

Of the total budgetary provision, Rs.800 crore has been reserved for the standing committee, a substantial increase over the Rs.650 crore allocated in the last financial year. Of this, Rs.227 crore will be earmarked for the funds to be given to 227 corporators. There are indications that of the Rs.800 crore, around Rs.100 crore is likely to be reserved for the Mumbai mayor.

Standing Committee chairman Prabhakar Shinde said the decision to increase the allocation was taken in view of the presen...