STOCK MARKET BSE NSE

Rise in Andhra’s tax, non-tax revenues till August

Officials are happy that there has been an improvement in the revenue receipts, but are worried over the increase in the revenue expenditure, saying the State is yet to come out of the red.

Published: 18th October 2021 07:19 AM  |   Last Updated: 18th October 2021 07:19 AM   |  A+A-

Atul Pranay has conducted successful searches in sensitive cases, leading to detection of huge evasion of taxes.

Representational Image. (File Photo)

By Express News Service

VIJAYAWADA: The State’s tax revenue for the current fiscal up to August stood at  Rs 37,050.79 crore as against Rs 24,998.73 crore reported during the year-ago period. Non-tax revenue too saw an increase in the first five months of the current fiscal compared to the corresponding period of the last financial year.

According to statistics released by the Comptroller and Auditor General of India, Andhra Pradesh netted a non-tax revenue of Rs 1,466.68 crore for the first five months (April to August) of this fiscal, compared to Rs 1,043.56 crore posted for year-ago period.

Revenue from grant in aid and contributions for the first five months of 2021-22 stood at Rs 14,641.64 crore as against Rs 11,428.59 crore for the same period last fiscal. The total revenue receipts till August 2021 were Rs 53,159.11 crore, compared to Rs 37,470.65 crore for the same period last fiscal. 

The CAG reported that revenue receipts (actuals) were 30% of the budget estimates for the financial year 2021-22. At the same time, capital receipts (actuals) were 99.77% of the budget estimates for the first five months itself as against 96.42% for the corresponding period last fiscal.

While the recovery of the loans and advances (non-debt of capital receipts) stood at Rs 16.11 crore till August for the current fiscal as against Rs 15.68 crore for the same period last fiscal. The capital receipts (borrowings and other liabilities) for the first five months this fiscal were Rs 36,976.93 crore compared to Rs 47,130.90 crore for the same period in 2020-21. 

When the actuals to the budget estimates were calculated, it was 99.77% (Rs 37,029.79 crore) this fiscal.  The total receipts (revenue plus capital) were  Rs 90,152.15 crore in the first five months, which is 42.07%  of the budget estimates (Rs 2,14,276.43 crore). Revenue officials attributed the increase in tax and non-tax revenues to the improved collection system using the latest technology, including data mining and mapping.  

“There has been no increase in any tax, but minor adjustments in the tax structure. The Revenue Department’s efforts have yielded good results and saw an increase in revenues in the first five months. We intend to continue the good work,” a senior official not wishing to be named told TNIE. 

According to sources in the department, despite no hike in registration fee unlike neighbouring Telangana, there has been an increase in revenue from stamps and registration in the first five months of the current fiscal. Compared to Rs 1,399.35 crore till August in the last fiscal, the revenue from the stamps and registration rose to Rs 2,747.10 crore this fiscal.

Compared to the last fiscal, there has been an increase in revenue expenditure in the current fiscal till August, but the capital expenditure has decreased.  During the current fiscal, the revenue expenditure was Rs 75,669.98 crore, which was 41.95% of the budget estimates. 

Till August of the current fiscal, the revenue expenditure has been Rs 84,347.60 crore, which was 46.29% of the budget estimates. Capital expenditure till August last fiscal was Rs 8,851.62 crore (29.60% of the budget estimates), while it was Rs 5,723.75 crore  (18.35% of the budget estimates) this fiscal.

Officials are happy that there has been an improvement in the revenue receipts, but are worried over the increase in the revenue expenditure, saying the State is yet to come out of the red.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

edexworks
flipboard facebook twitter whatsapp