Odisha sees stunning revenue growth of 112 per cent in Q1

BHUBANESWAR:  Beating all adversities of the Covid-19 lockdowns and shutdowns, the State has recorded an impressive growth of 112.54 per cent (pc) in its revenue income in the first quarter of this fiscal.

Revenue generation by June-end increased to Rs 17,656.7 crore against last year’s collection of Rs 8,307.54 crore during the same period. Revenue collection from own-tax sources grew by 74.66 pc to Rs 8,036 crore against Rs 4,601 crore during the same period last fiscal.

Similarly, the non-tax revenue till June 2020 was Rs 3,705.54 crore which increased to Rs 9,621.16 crore by June 2021 recording a growth of 159.55 pc. This significant growth in non-tax revenue was assigned to improved collection of royalty from the mining sector.

Informing about the financial performance of different departments and revenue collection in the first quarter of the current fiscal at the all secretaries meeting chaired by Chief Secretary Suresh Mahapatra here on Tuesday, Principal Secretary of Finance Ashok Meena said keeping pace with the revenue generation, there has been significant growth in budget utilisation.

The overall percentage of the budget utilisation by June-end grew to 21 pc (Rs 12,864 crore) against that of around 17 pc (Rs 9,873 crore) during the corresponding period of the last fiscal. 

A review of fund collection under DMF and OMBADC and its utilisation showed that progressive collection till May 2021 under DMF was around Rs 13,173 crore against which around 20,372 projects estimated around Rs 14,490 crore were sanctioned in different districts.

Of the sanctioned projects, 13,132 were completed by end of May and the rest were in different stages of implementation.

Similarly, under OMBADC Phase-II, 38 projects in seven sectors estimated around Rs 13,782 crore were sanctioned till end of May.

The progress of the projects was found to be satisfactory. Mahapatra directed the executing agencies and departments to complete the projects before the scheduled time. He advised the secretaries to focus on preparation of digital assets register for management and maintenance of the government assets created under different departments.

The register should be available in public domain for citizens. Development Commissioner Pradeep Kumar Jena suggested all departments to nominate a senior officer for coordinating with Odisha Space Application Center for preparation of the register.

Revenue jump

• Rs 17,656 cr collected by June-end 

• Rs 8,307 cr in Q1 last year 

• Rs 8,036 cr from own tax-sources 

• Rs 4,601 cr in 2020 Q1

• Rs 9,621 cr  non-tax revenue till June

• Rs 3,705 cr till June 2020