Post Devolution Revenue Deficit Grant from the Centre came in handy for the State to rein in revenue deficit from ₹13,796 core in 2014-15 to ₹9,657 crore in 2015-16.
According to the Comptroller and Auditor General report for 2015-16 tabled in the Assembly on Tuesday, the Central grant of ₹4,640 crore provided on the basis of the Fourteenth Finance Commission recommendations has helped to contain the revenue deficit.
The fiscal deficit too also recorded a decrease compared to the previous year as it came down from ₹18,642 crore to ₹17,818 crore. Revenue receipts of the State also showed a 19 per cent increase against the previous year’s record.
More than 50% of the increase was contributed by the share of Central taxes and grants-in-aid. The revenue receipts of the State showed a rising trend of 18% and 19 % during the past two years.
Compared to the previous year, all major tax revenue sources recorded an increase in 2015-16. Taxes on sales, trade, and such others was the single largest own tax revenue source and it increased by ₹2,829 crore.
