State’s revenue in October stable at ₹8,338 cr.

The State Government’s tax revenue during October remained stable at ₹ 8,338.93 crore, a shade higher than ₹ 8,268.66 crore registered during September.

The total revenue receipts at the end of October stood at ₹ 62,208.76 crore, realizing 35.32 per cent of the budget estimates of ₹1.76 lakh crore for the current financial year. The State registered highest revenue of ₹ 9,000 crore in a month during August since the lifting of restrictions imposed on account of Coronavirus (COVID-19) pandemic, but the revenue remained stable around ₹ 8,000 crore in the next two months.

Revenue through Goods and Services Tax inched closer to ₹18,000 crore mark reaching ₹17,799.69 crore at the end of October, crossing the half way mark of ₹ 35,520 crore projected in the budget estimates. Revenue through State Excise duties were pegged at ₹ 8,611.81 crore, 50.66 per cent of the projected ₹17,000 crore for the current year.

Stamps and Registrations department continued its impressive run registering revenue of ₹ 5,880 crore at the end of October as against ₹12,500 crore estimated during the current fiscal, according to the monthly key indicators released on the Comptroller and Auditor General of India. The department reached ₹7,000 crore mark by the end of November registering ₹1,100 crore revenue in November.

Revenue through sales tax showed a healthy growth crossing ₹15,000 crore mark at the end of October marking realization of 56.68 per cent of the budget estimates of ₹26,500 crore. The State’s share of Union taxes during the period reached ₹4,207.43 crore less than half of the projected ₹ 8,721 crore for the year.

Revenue from other taxes and duties was ₹2,678 crore, just around 40 per cent of ₹6,652 crore projected in the budget estimates even after completion of seven months of the financial year. Non-tax revenue too was not up to the expected levels pegged at ₹2,854 crore against the estimated ₹30,557 crore for the financial year.

Borrowings and other liabilities, listed under capital receipts, reached ₹28,349 crore against the projected ₹45,509 crore till the end of October, marking 62 per cent realization of the target. A major chunk of the revenue expenditure during the first seven months was on account of interest payments and expenditure on payment of salaries, wages and pensions. While the interest payments were to the tune of ₹10,411.78 crore for the first seven months, salaries/wages accounted for ₹17,005 crore and pensions another ₹ 5,603 crore.

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Printable version | Jan 21, 2022 10:40:48 AM |

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