Correcting for inflation (I used this tool by the US Bureau of Labor Statistics: https://www.bls.gov/data/inflation_calculator.htm), 30M USD in nov. 1995 would have a purchasing power equivalent to roughly 62M USD in feb. 2025. This is below half the budget of Moana 2 (150M USD, released in nov. 2024) for instance.
I would never use the official inflation numbers (they underestimate the actual inflation). It's easy to see that the most expensive movie ever made back in the day has a much lower budget that the most expensive movie made now, even adjusted for the official inflation rate.
In the same timeframe Jurassic Park cost twice more to make and it was a very expensive movie at the time.