Use of demonetised notes: Maharashtra mops up Rs 100 crore

People rush to pay pending water, electricity bills, property tax

By: Express News Service | Mumbai | Updated: November 12, 2016 3:03 am
RBI, reserve bank of india, inflation, inflation rate, niti aayog, money supply, currency ban, new notes, notes ban, narendra modi, black money, indian express news, business A senior officer revealed, “If we take into account all dues at the end of November 14, it would be more than 500 crore.”

The overwhelming response from the public to clear dues such as property tax, water and electricity bills using the old Rs 500 and Rs 1,000 notes has earned the state more than Rs 100 crore in less than 24 hours. With more people willing to clear the dues using the demonetised notes, the state government has decided to extend its deadline from November 11 to 14.

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On the second successive day, Chief Minister Devendra Fadnavis urged the Centre to consider the state government’s request for relaxing norms to facilitate people to clear pending dues using the old Rs 500 and Rs 1000 notes. It was also conveyed to the Centre that the mechanism is also working to the state government’s advantage as long pending dues that remain untapped are being deposited in the respective civic corporations and offices.

A senior officer revealed, “If we take into account all dues at the end of November 14, it would be more than 500 crore.”

On Thursday, the chief minister took the initiative to announce that people can make payments using old notes for clearing water and electricity bills and property tax. While people heaved a sigh of relief as they could clear dues using old notes, the government has managed to mop up a record revenue in a single day.

The money received by municipal corporations in 12 hours was as follows: Pune (Rs 836 lakhs); Nashik (Rs 200 lakhs); Kalyan Dombivali (Rs 400 lakh); Nagpur (150 lakh). The flow of funds was increasing across all the civic bodies, Pune, Chandrapur, Nanded, Ulhasnagar, Solapur, Kalyan Dombivali, Dhule, Pune, Thane, Sangli, Malegaon, Nashik, Jalgaon, Ichalkaranji, Navi Mumbai, Akola, Gondia, Aurangabad, Wardha, and Ambarnath which saw huge crowds eager to clear pending dues.

A senior officer said, “Payment of dues using old currency was allowed for just one day. The response has been overwhelming, resulting in huge collections.” On Wednesday, Fadnavis urged the Prime Minister to allow the state to relax norms by allowing use of old currencies for clearing dues in crucial sectors like Mahavitran, municipal corporations and gram panchayats.

It allowed people to make payments for pending property tax, water and electricity bills.

Toll deadline extended

The state government has extended the deadline for toll tax collections using old Rs 500 and Rs 1,000 notes to November 14. On Tuesday, the government issued directives to all toll nakas to accept old currency for toll tax for the next 24 hours. But sensing the long queues and hardships faced by commuters, it extended it from November 11 to November 14.