Mumbai (Business Correspondent): The Brihanmumbai Municipal Corporation (BMC) on Tuesday presented a budget of over Rs 74,000 crore for the financial year 2025-26, which, according to commissioner Bhushan Gagrani, is the “biggest budget” ever presented by the BMC. A major highlight of this year’s budget is the proposal for an ambitious project: a giant Ferris wheel inspired by the London Eye, which will be known as the ‘Mumbai Eye’. The BMC has proposed to build a giant Ferris wheel, 135 metres tall, which will be inspired by the London Eye.
The establishment will showcase the beauty and development of Mumbai, just as the London Eye has done with its sustainability and attracted tourists. Under the project, this Ferris wheel will offer a bird’s eye view of the city’s financial capital. It will have air-conditioned and sealed passenger capsules, which will provide a comfortable experience to passengers.
The BMC informed that the project will be built under the public-private partnership (PPP) model. However, no budget has been allocated for the project yet nor has the location been determined for it. According to initial estimates about the project, two to three acres of land may be required to build it.
First proposed in 2008
The idea of ‘Mumbai Eye’ was first proposed by Shiv Sena leader Ravindra Waikar in 2008. After this, in 2022, the Mumbai Metropolitan Region Development Authority (MMRDA) proposed a plan to build it on the Bandra Reclamation Promenade. However, that plan was stopped after opposition from locals. Now, the BMC is trying to give a new shape to this project again.
BMC’s “citizen-centric” budget
This “citizen-centric” budget of the BMC has been presented as “a vision for the future of Mumbai”. Commissioner Bhushan Gagrani said that this budget reflects BMC’s commitment towards innovation, inclusiveness and sustainability, while aiming to provide the best civic services and amenities to the citizens. The Rs 74,427.41 crore budget has six main pillars: fiscal discipline and sustainability, enhancement of infrastructure and services, quality education system, clean and sustainable environment, social initiatives, and governance and administrative efficiency.
Mumbai Eye: A step towards the future
According to BMC’s vision, the ‘Mumbai Eye’ project can prove to be an important step in the development of the city and attracting tourists. It can give a new identity to Mumbai, as well as present the cityscape to the whole world.
