Options to octroi under consideration: Jayant Patil
Aurangabad, Maharashtra, Mar 12 (UNI) Maharashtra Finance Minister Jayant Patil today said that the state government has been considering options to replace the Octroi tax, which according to him, has been badly affecting industry and traders in the state.
Talking to reporters after a pre-budget meeting with the representatives of industry and traders here today, Mr Patil said that the government has been considering to bring an additional Value Added Tax or Account Based Tax to replace Octroi, against which the traders have launched statewide agitation.
He said that the government would require an additional revenue of Rs 5,000 to 6,000 crore in the case of complete abolition of octroi and therefore, various options were under consideration.
Replying to a question, Mr Patil said that he had received several suggestions from the representatives of industry as well as traders and was impressed by some of them.
The industry and traders' representatives have insisted for the abolition of Octroi, he said.
The state budget for the year 2006-07 would focus on improving basic amenities while concentrating on the equal growth of all the region, Mr patil added.
Efforts would be made to reduce the imbalance of growth in Marathwada and Vidarbha through the budget, he said.
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