Mumbai, Jan 11: In an clear indication that octroi will be abolished from Maharashtra, Chief Minister Vilasrao Deshmukh today said that his government has completed the process of exploring various options to compensate the local bodies and has managed to evolve a consensus on the issue.
''The process has been going on for few years and it is finally over. A cabinet note has been prepared and a last push is required.
It will be a win-win situation for both the traders and the civic bodies. A positive and final decision is expected to come soon,'' said Mr Deshmukh during the inauguration function of 'the Global Trade and Investment conference, India your partner' to commerate the centenary year of Indian Merchants Chamber (IMC).
Speaking about the government's decision to repeal Urban Land Ceilng (ULC) Act, Mr Deshmukh said that the IMC had been telling him that once the Act is repealed, the housing stock will go up and prices will automatically reduce. ''It is too early to see the result. I will wait for another year and then come back to you,'' the Chief Minister asserted.
Urging the business industry to co-operate with the government to take forward development programmes, Mr Deshmukh called upon the IMC to take initiatives to encourage private sector in power generation. ''My government is committed to ensure zero load shedding by 2012,'' he said.
Stating that his government has made elaborate plans to improve power generation and upgradation of infrastructure in urban areas, Mr Deshmukh