Thursday, October 14, 2010

Mumbai's Economic Role in India

Mumbai accounts for 16% of income tax collections and 35% of corporate tax collection in the country.

• Mumbai accounts for 25% of the State's income at current prices.

• 66% of the sales tax revenue in Maharashtra originated in Mumbai.

• Mumbai is home to both the National Stock Exchange and the Bombay Stock Exchange and dominated the turnover and total market capitalization of the Indian stock markets. The share of these two exchanges is about 92% with respect to the total turnover. They represent virtually the total market capitalization of India's corporate sector.

• Contributes 30% of customs duty.

• Mumbai handles 26% of the domestic air traffic cargo and an average of40%of the international air cargo traffic in country and about 25% of the domestic and 38% of the International air passenger traffic in the country.

• The number of telephone connection in Mumbai is estimated to be approximately 2.31 million. Of the approximately 7 million cellular subscribers in India, 10% of the subscribers are believed to be in Mumbai.

• 2.5 million tax assesses.

• Mumbai accounts for a significant share in deposits mobilization (14% of total deposits) and deployment of credit (21% of total credit) of scheduled commercial banks.

• Mumbai accounts for almost 30% of Foreign Direct Investment (FDI) in the State.

• Handles over 35% of cheque clearances in number and 60% in value, more than 10 times that of any other metro.

• By 2020 Mumbai will have 27 Million people and will be the 2nd largest city in the world after Tokyo

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