Mumbai is set to get a new landmark with the revival of the Mumbai Eye project. Modeled after the iconic London Eye, this giant Ferris wheel aims to become a major tourist attraction, offering a panoramic view of the city. The project will be developed under the Public Private Partnership model, ensuring private investment and expertise contribute to its execution.
The idea of Mumbai Eye was first introduced in 2008 by Shiv Sena leader Ravindra Waikar. In 2022, the Mumbai Metropolitan Region Development Authority suggested building it at Bandra Reclamation. However, the plan faced strong opposition from local residents, leading to its cancellation. Now, the BMC is determined to push the project forward at a new location yet to be finalized.
BMCs Budget for 2025-26 Sees 14.19 Percent Increase
The BMC, Indias richest civic body, recently presented its budget for the financial year 2025-26. The total budget stands at Rs 74427 crore, reflecting a 14.19 percent increase from the previous years Rs 65180.79 crore.
This budget is significant as it highlights the citys infrastructural growth, urban planning, and improved civic amenities. The budget was presented by additional municipal commissioners to BMC Commissioner Bhushan Gagrani, the state-appointed administrator overseeing the civic body since the corporators term ended in March 2022.
A Budget Focused on Development
BMCs increased budget allocation suggests a strong push for various infrastructural projects. The Mumbai Eye initiative is just one of the several ambitious plans to boost tourism and urban development. Investments in road networks, drainage systems, and healthcare facilities are also expected to receive considerable attention.
For the third consecutive year, the budget was presented directly to the administrator instead of the traditional method where the municipal commissioner presented it to the standing committee. This reflects the ongoing administrative changes in Mumbais civic body.
Conclusion
With the revival of Mumbai Eye and a higher budget allocation, the BMC aims to enhance the citys tourism and infrastructure. If executed successfully, Mumbai Eye could become a key landmark, boosting the citys global appeal.
