MUMBAI, July 9 -- The BMC, the country's richest civic body, should use its financial reserves to build infrastructure rather than leave them in fixed deposits, chief minister Devendra Fadnavis opined on Wednesday. The corporation currently has Rs.78,000 crore in FDs. Fadnavis, who presented his argument in the state legislative assembly on Wednesday, said the BMC earns only 3-4% interest on term deposits, while inflation is about 7%. In effect, the value of those deposits declines nearly 4% every year, he said. If the same money is invested in infrastructure projects, the returns would be significantly higher, Fadnavis argued. P4...