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State’s revenue receipts remain stable in August, crossing 10K-cr. mark for third consecutive month

Revenue receipts inched close to ₹50,000-cr. mark

September 29, 2022 06:28 pm | Updated 06:28 pm IST - HYDERABAD

The State’s revenue receipts during August remained stable, crossing the ₹10,000-crore mark for the third consecutive month.

Revenue receipts at the end of August inched close to ₹50,000, crore reaching ₹ 49,705 crore with State excise duties at ₹7,147 crore, reaching 40.84 per cent of the budget estimates of ₹17,500 crore. The other taxes and duties too showed an good growth to reach ₹3,545 crore, marking 60 per cent of the projected ₹5,902 crore.

Revenue receipts through Grants-in-Aid and contributions, however, remained sluggish at ₹4,011 crore, just 9.78 per cent of the ₹41,001 crore projected in the budget estimates. A major chunk of revenue was through capital receipts in the form of borrowings and other liabilities that increased from ₹10,945 crore in July end to ₹17,842 crore by the end of August.

Revenue through Goods and Services Tax increased from ₹12,986 crore to ₹16,332 crore during the period while the Stamps and Registration department continued its impressive run crossing ₹6,000 crore to reach ₹ 6,053 crore against ₹4,910 crore in July.

Sales tax revenue during the period increased from ₹10,083 crore to ₹12,362 crore and the State’s share of union taxes at the end of August stood at ₹4,263 crore against the projected ₹12,407 crore in the budget estimates, achieving 34.37 per cent of the target. Non-tax revenue at the end of August stood at ₹7,839 crore.

On the expenditure front, outgo in the form of interest payment reached ₹7,958 crore while the expenditure on account of salaries/wages was ₹15,888 crore. Spending on account of pensions was higher at ₹7,603 crore, 66.79 per cent of the ₹11,384 crore projected in the budget estimates.

The State’s revenue deficit reached ₹4,778 crore and fiscal deficit has been pegged at ₹17,842 crore at the end of August, according to the provisional figures submitted to the Comptroller and Auditor General of India.

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