NMC's octroi income up 27.40 % in FY 2010-11

Nashik Municipal Corporation (NMC) has registered 27.40 per cent rise in its income through octroi in FY 2010-11. NMC has set the octroi target of Rs 540 crores for the current FY 2011-12.

NMC earns revenue through various taxes- octroi, Development tax, water cess, property and other taxes.

NMC earns 70 per cent of total revenue through octroi and the rest of the revenue (30 per cent) through other taxes. NMC’s income through octroi has increased by 27.40 per cent to Rs 504 crores in FY 2010-11, against Rs 395.58 crores in FY 2009-10, NMC sources told Business Standard.

NMC’s income through octroi has increased around five times in the last ten years from Rs 113.43 crores in FY 2001-02 to Rs 504 crores in FY 2010-11. In FY 2000-01, NMC’s income through octroi was Rs 114.95 crore, Rs 113.43 crore in FY 2001-02, Rs 130.14 crore in FY 2002-03, Rs 158.90 crore in FY 2003-04, Rs 220 crore in FY 2004-05, Rs 258.67 crore in FY 2005-06, Rs 309.21 crore in FY 2006-07, Rs 370 crore in FY 2007-08, Rs 370.84 crore in FY 2008-09 and Rs 395.58 crores in FY 2009-10.