Karnataka

Mid-year review shows State has done well in tax collection

Karnataka has done well in tax collection in the first half of 2018-19 despite drought in some districts, according to the mid-year review (MYR) of State Finances 2018-19, tabled in the Legislative Assembly on Thursday.

At the same time, the report notes that for the present year, there is some concern over growth in agriculture and allied sectors because of drought in northern districts.

The total revenue receipts during the first six months of financial year 2018-19 ending in September 2018 have shown a healthy increase. The total revenue receipts of the State during the first half of the financial year 2018-19 stood at ₹76,025 crore, including the State’s Own Tax Revenue (SOTR) of ₹51,247 crore, the report states.

The total Own Revenue Receipts (ORR) during the first half of the financial year 2018-19 is 47% of that budgeted for the full year, which is on a par with the moving average of 47% during the first half of the previous five years, according to the report.

Total receipts (excluding borrowings) for the State during the first half of this year is around 11.8% above that during the corresponding period in 2017-18, the report states.

All the four major State’s Own Tax Receipts — commercial taxes, excise, motor vehicles tax, and stamps and registration — have shown reasonable achievement during the first six months of 2018-19 when compared with the budget estimate.

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Printable version | Apr 10, 2020 6:43:34 AM | https://www.thehindu.com/news/national/karnataka/mid-year-review-shows-state-has-done-well-in-tax-collection/article25736044.ece

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