Municipal corporations in Maharashtra have received a significant financial boost, according to a recent report by the Reserve Bank of India.

The top ten municipal bodies in the state contribute more than 58 percent of total revenue receipts, demonstrating their strong fiscal position ahead of the upcoming assembly elections on November 20.

Although the COVID-19 pandemic caused a decline in revenue surplus, the consolidated budgets of all municipalities indicate a projected robust rebound.

For the fiscal year 2023-24, the budgeted revenue surplus for Maharashtra"s municipal corporations is an impressive Rs 11,104 crore, surpassing 231 other corporations and reflecting strong urban governance and fiscal health.

This financial resilience is attributed to the municipalities" ability to generate revenue through local taxes and fees, as well as receiving grants from both the central and state governments.

The report emphasizes the crucial role of municipal corporations in delivering local public services in large urban areas.