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This is an archive article published on April 3, 2012
BMC sees 21% surge in octroi collections
After having set a target of collecting Rs 5,900 crore in octroi,the Brihanmumbai Municipal Corporation (BMC) surpassed this target by registering collections of Rs 6,155 crore for 2011-12,which is 20.6 per cent higher compared to the last year.
After having set a target of collecting Rs 5,900 crore in octroi,the Brihanmumbai Municipal Corporation (BMC) surpassed this target by registering collections of Rs 6,155 crore for 2011-12,which is 20.6 per cent higher compared to the last year,where the collections stood at Rs 5103.5 crore. Octroi collection is the biggest source of revenue for the civic body.
In February,the collection stood at Rs 562 crore,it however,picked up pace in the last month of the financial year — with March raking in Rs 676 crore.
An official from the BMC’s assessment and collection department said the increased vigilance at the five octroi nakas have reduced the instances of octroi evasion and has thus increased the collection significantly.
Property tax,BMC’s second biggest source of income,also saw a 17 per cent jump from Rs 2,826.13 crore in 2010-11 to Rs 3,321.50 crore on March 2012.
This,despite the standing committee’s refusal to implement the new system of calculating property tax based on the property’s capital value instead of its rental value.
The collection from water and sewerage tax also saw a jump from Rs 750 crore last year to Rs 877 crore in the recently concluded financial year. The target set for the same was Rs 827 crore.
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