Which municipal corporation is widely regarded as the richest municipal corporation in India in terms of revenue and budget size?

Introduction / Context:
Urban local bodies manage essential civic services such as roads, water, waste management and local infrastructure. Some municipal corporations in large metropolitan cities handle very large budgets and are financially far stronger than others. This question asks which municipal corporation in India is generally considered the richest in terms of revenue and expenditure capacity.

Given Data / Assumptions:

• The focus is on the richest municipal corporation in India.
• Options include the corporations of Hyderabad, Mumbai, Delhi and Ludhiana.
• Richest here refers to overall financial resources, budget and revenue.
• We assume the widely accepted view that the Brihanmumbai Municipal Corporation leads in this respect.

Concept / Approach:
The Brihanmumbai Municipal Corporation, often shortened to BMC or Mumbai Municipal Corporation, serves India's financial capital and one of the most expensive real estate markets in the country. It collects significant property tax, octroi historically, and various service charges, giving it one of the largest municipal budgets in Asia. Exam oriented GK notes frequently mention Mumbai Municipal Corporation as the richest municipal body in India. The other cities have important corporations but with comparatively smaller budgets.

Step-by-Step Solution:
Step 1: Recognise that Mumbai is India's financial and commercial capital, hosting the stock exchange, large corporate headquarters and high value properties. Step 2: Understand that these features translate into very high municipal revenues from property taxes, business taxes and other local levies for the Mumbai Municipal Corporation. Step 3: Compare this with Hyderabad and Delhi, which also have significant budgets but often fall short of Mumbai's municipal revenue figures according to standard exam sources. Step 4: Ludhiana is a major industrial city but its municipal corporation does not match the scale of Mumbai's budget. Step 5: Therefore, among the given options, Mumbai Municipal Corporation stands out as the richest.

Verification / Alternative check:
One verification method is to recall news pieces and civics notes that label the Brihanmumbai Municipal Corporation as the richest municipal corporation in India, sometimes even in Asia. These articles highlight large infrastructure projects and civic works that BMC can fund due to its strong finances. Comparable descriptions are not typically attached to the corporations of Hyderabad, Delhi or Ludhiana, which confirms Mumbai's status.

Why Other Options Are Wrong:
Option Hyderabad Municipal Corporation is wrong because, while Hyderabad is a major tech and cultural hub, its municipal budget is lower than that of Mumbai. Option Delhi Municipal Corporation is wrong since Delhi's governance is split between multiple bodies and agencies, and although significant, its municipal corporation is not commonly cited as the single richest in India. Option Ludhiana Municipal Corporation is wrong because Ludhiana, though important industrially, does not approach Mumbai's municipal revenue scale.

Common Pitfalls:
A common mistake is to confuse political or administrative importance with financial strength. Some students may think Delhi, being the national capital, should automatically have the richest municipal corporation. However, many services in Delhi are handled by central government agencies and not only by the municipal corporation. Always distinguish between national or state capital status and the specific revenue profile of the urban local body mentioned in the question.

Final Answer:
The richest municipal corporation in India in terms of revenue and budget size is the Mumbai Municipal Corporation, also known as the Brihanmumbai Municipal Corporation (BMC).