The State’s total revenue receipts are inching close to half way mark during the current financial year reaching ₹84,515 crore at the end of October. This is 43.78% of the total ₹1.93 lakh crore projected for the entire fiscal.
Tax revenue at the end of October reached ₹70,126 crore, 55.39₹ of the ₹ 1.26 lakh crore projected for the entire year. Grants-in-Aid and contributions, primarily receipts from the Central Government, remained sluggish at ₹5,592 crore, just 13.64% of the ₹41,001 crore projected for the entire year.
Revenue from Goods and Services Tax continued to be buoyant at ₹ 23,493 crore, 55.39% of ₹42,189 crore projected for the year and the Stamps and Registrations yielded ₹8,238 crore till October-end thanks to the bullish real estate market. Revenue through sales tax was impressive at ₹17,329 crore, 52.51% of the projected ₹33,000 crore while collection through the State Excise duties remained higher at ₹10,320 crore, achieving 58.98% of the targetted ₹17,500 crore for the year.
The State received ₹ 5,911 crore as its share of union taxes at the end of October, according to the provisional data submitted to the Comptroller and Auditor General of India. This was 47.64% of the ₹12,407 crore projected for the year in the budget estimates. Revenue through other taxes and duties was impressive at ₹4,832 crore achieving 81.87% of the ₹ 5,902 crore projected for the entire fiscal. Non-tax revenue during the month had been lower at ₹396 crore reaching ₹8,796 crore against ₹ 8,400 crore reported at the end of the first half of the fiscal.
On the expenditure front, salaries/wages constituted ₹21,499 crore, 62% of the ₹33,942 crore projected for the year while debt servicing was another major head with interest payment accounting for ₹ 11,734 crore, 62.05 per cent of ₹18,911 crore projected for the fiscal.
The State’s fiscal deficit at the end of October was ₹20,057 crore while it has reported a revenue surplus of ₹463 crore.
