The BMC has become rich in the Covid-19 period due to record break income through premiums. The fund in fixed deposit increased from Rs 78,000 crore to Rs 92,000 crore, an 18 per cent rise in just 10 months. The FDs were almost stagnant in the previous three years. 

The Brihanmumbai Municipal Corporation had Rs 26,876 crore in FDs at the end of the financial year 2011-12, 10 years ago. The FD increased Rs 72,000 crore, a three-fold rise within six years, but after that the saving amount remained almost stagnant, due to two main reasons—dwindling income sources like property tax, premium through development work and corporation initiated big ticket projects like construction of roads, bridges, coastal road etc.