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Tax Revenue Defies Sluggish Economy

Published: 08th December 2015 05:39 AM  |   Last Updated: 08th December 2015 05:39 AM   |  A+A-

BHUBANESWAR:  In spite of sluggish economic conditions, the State has registered more than 23 per cent growth in its own tax revenue collection by November, 2015 in comparison to the corresponding period last fiscal.

The total revenue from own tax sources has been Rs 13,483.79 crore against a collection of Rs 10,932.92 crore in 2014, thereby recording a growth of 23.25 per cent.

Similarly, the non-tax revenue collection during this period is Rs 4,371 crore with a growth of around 10 per cent over the corresponding period of last year.

The State’s plan expenditure has also grown by 26 per cent during this time. Total State plan expenditure by end of November was Rs 20,001.32 crore which is around 26 per cent more than the expenditure made during the corresponding period last fiscal.

The revenue collection and plan expenditure was reviewed at the all-Secretary meeting chaired by Chief Secretary Aditya Prasad Padhi at the Secretariat on Saturday.

Utilisation of fund in infrastructure sector was to the tune of Rs 5,163 crore which is around 52 per cent of the budget estimate.

Fund utilisation in social sectors like education, health, ST and SC development, labour welfare, panchayati raj, women and child welfare, employment training and technical education is Rs 9,616 crore, which is around 55 per cent of the budget estimate.

The expenditure in infrastructure and social sector has exceeded by 8 per cent and 7 per cent respectively.

Similarly, expenditure in agriculture and allied sectors has been to the tune of Rs 3,859 crore showing a growth of 2.35 per cent over last year. Presenting the updates of the revenue position, Development Commissioner and Additional Chief Secretary, Finance R Balakrishnan said own tax revenue up to November is satisfactory. There has been higher collection from stamp duty and registration fees, renewal of mining leases, land revenue, electricity duty and State excise.

The Chief Secretary emphasised on collection of arrear revenue and timely completion of infrastructure projects. The departments have also been asked to submit plan and non-plan budget requirement for 2016-17 by December 15 to the Planning and Coordination Department.



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