MUMBAI, 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, authorisation of expenditure and the civic body's long-term financial sustainability. Azmi also flagged the decline of Rs.3,544 crore in FDs over the last eight months. "The decline warrants a transparent explanation of how the funds had been utilised, who had authorised the expenditure and how the BMC would finance its future commitments while maintaining adequate reserves," Azmi told HT. The demand comes as the BMC operated under an administrator without elected representatives for nearly four years, during which major infrastructure projects and financial commitments were made. Green-lit projects with allocated funds include the Mumbai Coastal Road, road concretisation programme, GMLR, reconstruction of bridges and railway overbridges, and sewage treatment plants. Azmi said financial decisions made during this period must be transparently accounted for to elected representatives and Mumbai's citizens. "The administration must reconcile the decline in reserves with actual expenditure, budgetary provisions and approvals, and clarify whether the money was used for approved projects, additional requirements, transfers between funds or settlement of liabilities," Azmi added. He requested a year-wise, fund-wise statement on withdrawals, transfers, actual expenditure, closing balances, major transactions, departments, projects, and approvals. "The administration should also specify which expenditures were covered by existing budget provisions and which required revised estimates, supplementary provisions or separate approvals," Azmi said. Seeking a five-year projection, Azmi asked if projected revenues can meet obligations without depleting reserves. Azmi acknowledged declining reserves do not inherently mean irregularity. Responding to Azmi's letter, Bhide stated BMC's FDs rose to Rs.91,690.85 crore in 2021-22, dropped to Rs.77,905.39 crore by March 31, 2026 due to heavy project spending, and rebounded to Rs.79,873.39 crore by October 13, 2026. BMC's Rs.2,44,552.65 crore infrastructure commitments will be met via revenue strategies and financing....