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— Paul Noronha

The Maharashtra Chief Minister, Mr Vilasrao Deshmukh, with the Indian Merchants’ Chamber President, Mr Niraj Bajaj, at the chamber’s 101st Foundation Day Celebrations in Mumbai on Friday.

Our Bureau

Mumbai, Sept 7

The Maharashtra Government could soon abolish octroi and take steps to scrap the urban land ceiling Act in the State.

The Chief Minister, Mr Vilasrao Deshmukh, announced on Friday that the State Cabinet could soon adopt a ‘scheme’ created by various industry associations for its abolition.

He also said that resolution scrapping the urban land ceiling Act would be discussed in the winter session of the State Legislature.

Mr Deshmukh was addressing a function of the centenary celebration of the Indian Merchants’ Chamber.

The Maharashtra Government had formulated a study group for devising alternatives to octroi. In its 2006 report, the group had recommended imposition of profession tax, levy of additional value added tax and increased property tax by the municipal bodies as an alternative to octroi.

The 22 municipalities in the State collect Rs 5,572 crore from octroi and levies annually.

Enumerating the major economic milestones in the State, Mr Deshmukh said the Maharashtra has attracted 55 mega projects with a cumulative investment of Rs 49,000 crore in recent years.

It is undergoing a new industrial revolution due to the investments.

The State has approval for 110 special economic zones, he said.

Mr Deshmukh said that the State Government plans to change the face of Mumbai metropolitan region with an investment of Rs 2.27 lakh crore in the coming years. Deepening of navigation channel at Nhava Sheva port, new airports at Navi Mumbai and Chakan near Pune and creation of new ports at Dighi and Rewas were a part of the proposed mega investments, he said.

More Stories on : Taxation | Maharashtra

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