State’s revenue receipts at the end of Q3 stands at ₹1.09 lakh crore

Tax revenue crosses 72% and revenue through other taxes and duties crosses expectations  

January 30, 2023 06:44 pm | Updated 06:44 pm IST - HYDERABAD

The State’s revenue receipts remained stable with no appreciable growth at the end of the third quarter of the current financial year.

Revenue receipts at the end of the third quarter are pegged at ₹ 1.09 lakh crore, 56.88 per cent of the ₹ 1.93 lakh crore projected in the budget estimates. Tax revenue continued to be impressive at ₹ 92,066 crore of the ₹ 1.26 lakh crore of the budget estimates, marking 72.72 per cent achievement.

Revenue through Goods and Services Tax was ₹31,059 crore, 73.62 per cent of the ₹42,189 crore budget estimates and that through State Excise duties was pegged at ₹13,188 crore of the ₹17,500 croe projected registering 75.36 per cent achievement. There was a significant improvement in the other taxes and duties which was ₹ 6,553 crore at the end of the third quarter, 111 per cent of the ₹ 5,902 crore projected in the budget estimates.

Revenue through Stamps and Registration was ₹ 10,713 crore against ₹ 15,600 crore projected for the entire fiscal while that from Grants-in-Aid and contributions continued to be significantly lower at ₹ 7,770 crore, just 18.95 per cent of the ₹ 41,001 crore shown in the budget estimates.

Non-tax revenue during the period too belied the expectations at ₹ 9,962 crore, 39.19 per cent of the estimated ₹ 25,421 crore while borrowings and other liabilities were pegged at ₹ 29,008 crore against ₹ 52,167 crore estimated for the entire fiscal.

The government continued to incur heavy expenditure on account of payment of salaries/wages and pensions which were pegged at ₹ 26,955 crore and ₹ 12,179 crore respectively. Expenditure on interest payment crossed ₹ 15,000 crore mark and reached ₹ 15,129 crore, 80.48 per cent of the ₹ 18,911 crore projected for the fiscal.

According to the provisional data of the Comptroller and Auditor General of India, the State, at the end of the third quarter, registered revenue deficit of ₹ 2,211 crore in contrast to ₹ 3,754 crore surplus projected in the budget estimates while fiscal deficit during the period was pegged at ₹ 29,008 crore.

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