Solid waste management (SWM) is one of the important tasks managed by local municipal bodies. Currently, it is one of the most neglected fields in the society. Unscientific management of waste leads to emission of methane, carbon dioxide, mercaptans, hydrogen sulfide, etc. Also, through transportation, various vehicular pollutants are released. In developing countries, waste is treated as a resource, and valuable products are obtained from them. This paper highlights about scientific management of waste and potential for Mumbai to earn about 33 lakhs per day through scientific management of waste. The challenges and opportunities are being discussed in this paper.