India's richest municipal corporation has found itself in a logjam. The pandemic has impaired its ability to meet expenses, even though its budget remains unspent year after year. In this series of articles, we will explore the Mumbai civic body’s financial might, the governance and procedural challenges in raising or spending money, and ways to finance expenditure due to the pandemic and the slowing economy. For the past few weeks, the Brihanmumbai Municipal Corporation has been reporting a severe cash crunch. It has slashed its capital expenditure by Rs 2,500 crore, imposed a 20% cut on its revenue expenditure, and…
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