Karnataka mops up Rs 9.5k crore additional tax

He assured the House that the government will focus on revenue receipts starting from April 1, and bring in more financial discipline. 

Published: 30th March 2022 06:07 AM  |   Last Updated: 30th March 2022 01:06 PM   |  A+A-

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By Express News Service

BENGALURU: Despite Covid-19 and the economic crisis, Karnataka saw revenue collection overshoot the target by Rs 9,500 crore under various tax heads, Chief Minister Basavaraj Bommai said. The budget for the year 2022-23 was passed in both Houses on Tuesday. He assured the House that the government will focus on revenue receipts starting from April 1, and bring in more financial discipline. 

Replying in the House, Bommai said that in the past two years, there was a financial crisis and they couldn’t collect revenue due to Covid. There was a revenue deficit of Rs 21,000 crore, and Rs 15,000 crore was spent on Covid management, increasing the financial burden on the government.

Bommai, however, said that in the past five to six months, the market improved and in spite of the third wave, the state government did well in mobilising revenue. “We could collect Rs 9,500 crore more tax, except motor vehicles tax,’’ he said. This is also because he conducted a review meeting with various department officials. “We had anticipated that collection would be Rs 7,500 crore more, but by March-end, we crossed Rs 9,500 crore,’’ he said.

Besides, the state also managed well in getting loans. “We had estimated we would take loans of Rs 67,100 crore, but ended up taking Rs 63,100 crore. This is because we collected good revenue, and also shows that the state is on the right path in bringing financial discipline. We are coming under the ambit of guidelines issued under the Fiscal Deficit Act,’’ he added. 


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