Govt firm on octroi phase-out
Maharashtra govt would soon firm up its decision to abolish octroi, chief minister Vilasrao Deshmukh said on Friday.
By TNN |
MUMBAI: The Maharashtra government would soon firm up its decision to abolish octroi, chief minister Vilasrao Deshmukh announced on Friday.
Speaking at the inauguration of a three-day Global Trade & Investment Conference on ‘India, Your Partner’, organised by Indian Merchants Chamber (IMC), here on Friday, Mr Deshmukh said his government was looking at a viable alternative to replace octroi. “We are talking to all stakeholders and a win-win formula will soon be worked out,” the CM said. Abolition of octroi has been one of the major demands put forth by the industry in Maharashtra, but the state has been dragging its feet even though it has in-principle conceded that.
Mr Deshmukh also exuded confidence that the state would continue to be the most preferred investment destination for FDI and drive India’s growth story. Mr Deshmukh, whose second stint as the chief minister has seen Maharashtra notch up a record number of big-ticket investment commitments, said the state had issued letters of intent for setting up 85 mega projects, with an investment of over Rs 1,10,000 crore, and these projects would go on stream in the next few years.
The chief minister also chose the occasion to throw light on the state’s rehabilitation policy for people affected by the special economic zone projects. Maharashtra has so far got in-principle and final approvals for 140 SEZs, Mr Deshmukh said, adding that the state scores high on implementing the rehabilitation policy. He emphasised the need for inclusive growth and benefits thereof to trickle down to the bottommost strata.
Addressing the industry’s concern over the ‘creaky’ infrastructure of Mumbai, the CM said a number of mega projects are on to mitigate the woes. On the energy crisis plaguing the state, Mr Deshmukh claimed that Maharashtra would be a power-surplus state by 2012. Major power generation projects, both in public and private sectors, were on the anvil, he added.
Union minister for overseas Indian affairs Vyalar Ravi, HDFC chairman Deepak Parekh, Mumbai Sheriff Indu Shahani, secretary of state in the ministry of economy, Poland, Adam Szejnfeld, and IMC president Niraj Bajaj also addressed the gathering. To Mr Ravi, the conference was “aimed at promoting trade and investment in both directions into India and from India to other countries”. He urged the global business community to appreciate the political compulsions associated with the coalition government in India and pointed out that economic growth could come only as a result of a broad political consensus on policies.
Speaking at the inauguration of a three-day Global Trade & Investment Conference on ‘India, Your Partner’, organised by Indian Merchants Chamber (IMC), here on Friday, Mr Deshmukh said his government was looking at a viable alternative to replace octroi. “We are talking to all stakeholders and a win-win formula will soon be worked out,” the CM said. Abolition of octroi has been one of the major demands put forth by the industry in Maharashtra, but the state has been dragging its feet even though it has in-principle conceded that.
Mr Deshmukh also exuded confidence that the state would continue to be the most preferred investment destination for FDI and drive India’s growth story. Mr Deshmukh, whose second stint as the chief minister has seen Maharashtra notch up a record number of big-ticket investment commitments, said the state had issued letters of intent for setting up 85 mega projects, with an investment of over Rs 1,10,000 crore, and these projects would go on stream in the next few years.
The chief minister also chose the occasion to throw light on the state’s rehabilitation policy for people affected by the special economic zone projects. Maharashtra has so far got in-principle and final approvals for 140 SEZs, Mr Deshmukh said, adding that the state scores high on implementing the rehabilitation policy. He emphasised the need for inclusive growth and benefits thereof to trickle down to the bottommost strata.
Addressing the industry’s concern over the ‘creaky’ infrastructure of Mumbai, the CM said a number of mega projects are on to mitigate the woes. On the energy crisis plaguing the state, Mr Deshmukh claimed that Maharashtra would be a power-surplus state by 2012. Major power generation projects, both in public and private sectors, were on the anvil, he added.
Union minister for overseas Indian affairs Vyalar Ravi, HDFC chairman Deepak Parekh, Mumbai Sheriff Indu Shahani, secretary of state in the ministry of economy, Poland, Adam Szejnfeld, and IMC president Niraj Bajaj also addressed the gathering. To Mr Ravi, the conference was “aimed at promoting trade and investment in both directions into India and from India to other countries”. He urged the global business community to appreciate the political compulsions associated with the coalition government in India and pointed out that economic growth could come only as a result of a broad political consensus on policies.
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