Andhra Pradesh - Hyderabad   

State revenue earnings fall

HYDERABAD: Revenue from departments like Commercial Taxes and Registration & Stamps has fallen by 27 per cent overall for 2009-10 so far.

In spite of the revenue shortfall which is attributed to the global slowdown, Chief Minister Y. S. Rajasekhara Reddy rejected a proposal made by the Transport Department to enhance motor vehicle tax and charges collected for registration of new vehicles.

At a meeting to review the State’s financial position, Dr. Reddy asked officials of the revenue earning departments to make up the shortfall in the next few months. He observed better days ahead once the economy begins looking up.

The meeting was informed that the Commercial Taxes Department achieved 78.2 per cent of the target set for May, Excise Department 80 per cent, Transport 71.3 per cent and Mines and Geology 70 per cent. The worst-affected was the Stamps & Registration Department which showed a 53 per cent shortfall in the target due to the real estate slump. In contrast, the Forest Department achieved its target for May while the achievement by Land Revenue Department was 55 per cent. Finance Minister K. Rosaiah later told reporters that as there was slight improvement in May compared to April, he expected things to improve in June. He was hopeful that VAT collections would also improve.

He said market borrowings for this fiscal might be around Rs. 1,400 crore as the Centre had permitted the States to mobilise funds through this route up to 3.5 per cent of the Gross State Domestic Product.

At the conference of Finance Ministers at New Delhi on June 11, States pleaded for raising the ceiling from 3.5 per cent to 6 per cent. A response from the Centre was awaited.

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