Amat confident to meet revenue collection target

Finance Minister Pradip Kumar Amat today expressed confidence that the state government will meet its target.

Published: 15th December 2016 11:42 PM  |   Last Updated: 15th December 2016 11:42 PM   |  A+A-

By Express News Service

BHUBANESHWAR: Even as the revenue collection of the state in the current financial has not grown appreciably compared to last year, Finance Minister Pradip Kumar Amat today expressed confidence that the state government will meet its target.

"There is a marginal increase in the collection of revenue from own tax till October 2016 which was 46.35 percent of target for 2016-17. The state failed to achieve the project revenue growth due to fall in collection from stamp duty, registration fee, land revenue, sales tax and mining revenue," Amat said while replying to a debate on the Appropriation Bill.

The Finance Minister said that collection from mining royalty till October this year has fallen by 22.14 percent against the corresponding period last year.

He attributed the revenue loss to drastic fall in the prices of iron in the
international market. Poor demand for minerals in global market has adversely impacted collection of commercial tax and tax on vehicles.

Appropriation bill amounting Rs 6014.60 crore was passed in the Assembly and bulk of the provision is mad for state plan expenditure.

Amat said 85 percent of the supplementary budget is meant for state plan and Rs 2,875 crore of the outlay is provisioned for capital expenditure. The total capital outlay including the provision made in the main budget is more than 5 percent of the gross state domestic products (GSDP).

Of the Rs 5150.94 crore allocated for state plan, Rs 2875.04 crore has been provided for infrastructure development which includes Rs 419.65 crore for state highway development project, implementation of Biju Expressway and construction of urban roads.

Besides, Rs 300 crore has been allotted for construction 33/11 KV power
sub-stations, Rs 247.35 crore for deposit of share price of 3rd and 4th units of Odisha Power Generation Corporation (OPGC).

Amat said in the rural development sector Rs 200 crore has been provided for Biju Setu Yojana, Rs 40 crore for Mukhyamantri Sadak Yojana, Rs 150 crore for rural water supply and Rs 438.4 crore for Rural Infrastructure Development Fund (RIDF).

While an allocation of RS 1292.27 crore has been made for the rural development department, energy department comes second with a provision of Rs 826.44 crore. While Rs 886.6 crore has been provided
for Swachha Bharat Yojana, Pradhan Mantri Awas Yojana has also received an allocation of Rs 498.09 crore.

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