Octroi collection has risen by three per cent in November, thanks to the tight vigilance. This year, revenue from octroi was hit by global downturn, after which the civic chief told the department to tighten surveillance.
The 10 per cent fall has now come down to 6.73 per cent. Octroi and property tax are major sources of revenue for the BMC. “The octroi revenue was Rs 371 crore for November 2008, while in the corresponding month this year, the collection has touched Rs 398.8 crore, which is a three per cent increase,” said N.A. Pathan, head of the octroi department.
“Last year the civic octroi revenue was Rs 4,514 crore, while this financial year the department has set to reach up to Rs 4,425,” said, a senior official from finance department on the condition of anonymity.
“The rise is due to tight night vigilance and an upsurge in market condition,” said Pathan.
“If collection grows even at this rate, we can wipe out deficit by the end of the accounting year and achieve our target,” said Pathan. However, the set collection target is lesser than last year’s annual collection.