THIRUVANANTHAPURAM: Kerala’s tax revenue increased by 6.5% in 2023-24 - from Rs 90,228.84 crore in 2022-23 to Rs 96,071.93 crore, showed the CAG’s “Accounts at a Glance” tabled in the assembly on Tuesday.
The state’s own tax revenue rose from Rs 71,968.16 crore to Rs 74,329.01 crore and devolution of Union taxes from Rs 18,260.68 crore to Rs 21,742.92 crore. The percentage of the state’s own tax revenue to total tax revenue declined from 79.76 in 2022-23 to 77.37 next year. Of the total revenue receipts, Rs 1,24,486.15 crore, tax revenue constituted Rs 96,071.93 crore, non-tax revenue Rs 16,345.96 crore and grants-in-aid Rs 12,068.26 crore.
The Union government’s grants-in-aid to Kerala saw a drastic decline - from Rs 27,377.86 crore in 2022-23 to Rs 12,068.26 crore next year. Of the total grants-in-aid in 2023-24, Finance Commission grants constituted Rs 7,245.69 crore, centrally sponsored schemes Rs 3,918.86 crore and other grants Rs 903.71 crore.
As much as 73.36% of revenue receipts, Rs 1,24,486.15 crore, was spent on the state government’s committed expenditure. Of this, expenditure on salaries was Rs 38,572.84 crore, interest payment, Rs 27,106.22 crore and pensions Rs 25,644.24 crore.
As a proportion of GSDP, the revenue deficit increased to 1.58% , fiscal deficit increased to 2.99% and total debt liabilities decreased to 36.23% in 2023-24. These were 0.88% , 2.44% and 36.80% respectively in 2022-23.
The state government’s financial assistance to local self-governments decreased by 12.79% - from Rs 15,843.71 crore in 2022-23 to Rs 13,817.96 crore in 2023-24. Aggregate Plan expenditure, Rs 34,310.52 crore, constituted 21.51% of the total expenditure and 2.99% of GSDP in 2023-24. They were 20.63% and 3.20% respectively in the previous year.