Mumbai customs revenue down by Rs 2,000-cr due to eco slowdown

The Mumbai customs department has been hit by a Rs 2,000-crore revenue loss due to the sharp decline in import-exports owing to the economic slowdown, a top customs official said.

The Mumbai customs department has been hit by a Rs 2,000-crore revenue loss due to the sharp decline in import-exports owing to the economic slowdown, a top customs official said.

HT Image

“The revenue of Mumbai customs has gone down by almost Rs 2,000-crore due to decline in both exports and imports this year,” Chief Commissioner of Customs, Mumbai, M Dwivedi, said while interacting with synthetic and rayon exporters in Mumbai.

The 20 per cent fall in customs revenue at Rs 6,500- crore as against Rs 8,500-crore last year, shows that there is some serious concern. The recession has hit the country and imports and exports in particular, he said.

“However, we are eager to help trade by simplifying procedures for smooth exports and imports,” Dwivedi said.