BMC revenue from Octroi up

The official added that the major share of crude oil in octroi is 39 per cent.

Written by Vishwas Waghmode | Mumbai | Published:October 12, 2016 2:59 am
bmc, bmc octroi, bmc revenue, bmc octroi revenue, india news In 2014-15, BMC collected Rs 6,650 crore from octroi, while in 2013-14 and 2012-13, the civic body collected Rs 6,755 crore and Rs 6,748 crore revenue respectively. (Express Archive)

After recording the lowest revenue collection from Octroi last year, the Brihanmumbai Municipal Corporation’s (BMC) revenue has gone up this year. Officials from the assessor and collection department of the civic body said total collection as on October 6 is Rs 3,403 crore. Out of the Rs 3,403 crore, around Rs 2,433 has been generated from Octroi nakas and Rs 970 crore from crude oil.

“The revenue generated from Octroi above our estimated target so far. It has seen a rise due to increase in octroi on crude oil from 3 percent to 4.5 percent. After the state government gave us the go-ahead in August first week, revenue from crude oil started increasing sharply which helped in improving total revenue. It was below the target till July,” said an official. The official further said that there is no octroi on ethanol from April this year. The revenue generated from octroi on ethanol was around Rs 5 crore, said the official.

The official added that the major share of crude oil in octroi is 39 per cent. “Though there is no rise in crude oil import, the hike in its rate of Octroi has helped to generate more revenue. While the total octroi collection is plus one percent of our target, the Octroi collection on crude oil is plus 7.88 percent so far. We are hopeful that we will be able to achieve our target this year,” explained the official. Another official said there is a rise in revenue from Octroi nakas as well.

“We deployed task forces on all octroi nakas. We are rotating their duties weekly which helped in breaking the nexus that used to be earlier,” said the official. The civic body’s estimated revenue from Octroi is Rs 7,000 crore for the current financial year. Last year, the revenue generated from Octroi was Rs 6,276 crore against the estimated revenue of Rs 7900 crore. It was the lowest recorded revenue in last five years of the civic body. In 2014-15, the civic body collected Rs 6,650 crore from octroi, while in 2013-14 and 2012-13, the civic body collected Rs 6,755 crore and Rs 6,748 crore revenue respectively.

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