The slow pace of growth in the State’s revenue receipts continued for the fifth month in a row with receipts at the end of August pegged at ₹72,933.41 crore.
This is 33.68% of the ₹2.16 lakh crore revenue receipts projected in the budget estimates of the current financial year. Tax revenue in the first five months was shade higher at ₹55,441.76 crore, 36.36 % of ₹1.52 lakh crore projected for the fiscal.
The significant feature of the revenue receipts during the month was accrual through non-tax revenue which reached ₹14,482 crore, 63.50 % of the ₹22,808 crore projected for the entire year. Revenue under the head till July-end remained at ₹1,815 crore, but shot up in August by more than ₹12,000 crore.
Tax revenue under the other heads like Goods and Services Tax remained stable at ₹18,754 crore, 36.81 % of the ₹50,942 crore projected in the budget estimates for the financial year. Revenue through stamps and registration during the five months was ₹5,852 crore, 31.63 % of the ₹18,500 crore projected for the entire year.
The State Excise duties continued to contribute higher revenue registering 51 % achievement. The State achieved revenue of ₹ 10,149 crore during the first five months against the projected ₹19,884 crore while revenue through other taxes and duties too was at ₹5,064 crore, 34.86 % of the ₹14,528 crore projected in the budget estimates.
Grants-in-Aid and Contributions continued to beat the estimates registering ₹3,009 crore at the end of August, just 7.29 % of the ₹41,259 crore projected in the budget estimates. According to the provisional figures submitted to the Comptroller and Auditor General of India, borrowings and other liabilities of the State reached ₹26,173 crore at the end of August. This is 68.42 % of the total ₹43,294 crore projected for the fiscal with seven more months to go.
On the expenditure side, the State made interest payment of ₹8,851 crore, 39.5 % of the ₹22,407 crore estimated for the fiscal, whole expenditure on pension payment was ₹6,973 crore, 53.54 % of the ₹13,024 crore estimated for the year.
Expenditure on account of salaries/wages too was on the higher side at ₹16,937 crore, marking 43.85 % of the projection of ₹38,627 crore. The State’s revenue deficit at the end of August stood at ₹3,715 crore against surplus of ₹4,881 crore estimated for the year. The fiscal deficit at the end of five months was ₹26,158 crore and the primary deficit was ₹17,306 crore, according to the CAG report.
