The dip in trade too is worrying civic officials as the target of Rs 4,600 crore remains to be achieved by March 31, 2009. “If the recession continues for another few months, it will be difficult to achieve the target. Moreover, the civic administration has additionally fixed a target of Rs 5,300 crore for the financial year 2009-10,” said an official from the octroi department.

The total octroi collection till December 15 stands at Rs 3,267 crore, a rise of Rs 434 crore from last year’s figure of Rs 2,833 crore. However, due to a fall in crude oil imports, the overall growth has dipped to 15.33 per cent from last year’s 22 per cent.

The development plan and building permission departments, too, are struggling to meet the target of Rs 887 crore. Development charges, which account for 25 per cent, and premium on buildings, which contribute 60 per cent, have not able to pool in the revenue as builders are not coming forward with new plans.

“For the last three-four months, there has been a dip in building proposals and we are, therefore, not able to collect as much development charges and premium as expected,” pointed out DP Chief Engineer Ashok Shintre.

The department has so far been able to collect around Rs 600 crore and is already thinking about a mid-year revision of the target of Rs 1,254 crore. “If the recession continues for long, then there is no option but to revise the targets. We had a great year in terms of revenue till early this year as the realty sector was at an all time high. But the market slump has just dipped the income,” rued Shintre.

... contd.