Tags: Mumbai

Mumbai, Mar 24 : Abolition of octroi is among the various recommendations made by Maharashtra Economic Development Council (MEDC) for overall growth of the Mumbai Metropolitan Region (MMR).

The MMR, spread over 4,355 sq km, comprises Mumbai, its suburbs and parts of neighbouring Thane district like Thane city, Kalyan, Bhivandi, Ulhasnagar and Vasai. The region also includes areas like Uran, Panvel and Karjat in the adjoining Raigad district. Overall the region consists of five Municipal Corporations and 16 Municipal Councils.

"MMR, at present, contributes approximately 40 per cent of the Gross State Domestic Product of Maharashtra and accounts for about five per cent of India's Gross Domestic Product," S S Bhandare, Economic Consultant and Chief Resource Person of MEDC, said today.

"For sustainable and overall development, business growth is essential for which various steps need to be taken and these include abolition of octoi in the state," he said.

Bhandare was speaking at a seminar on `Economic Growth Strategy for Mumbai Metropolitan Region' in south Mumbai.

However, when the State Government started contemplating abolition of octroi, civic bodies, particularly that of Mumbai, strongly opposed the move as the tax earns huge revenue for them. (MORE)

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