HYDERABAD: The State government’s revenues as well as its expenditure on various projects and schemes are expected to come down due to the effect of Coronavirus this month.After the complete lockdown in the State, the sale of liquor has come down to a naught. Already, pubs and eateries have been closed and there is a dip in the sale of petrol and diesel in the last two days.
As the lockdown in the State would continue till March 31, the revenue receipts in the last month (2019-20) will witness a drastic fall. Liquor and petrol are the two main revenue resources for the State government.As the sales of various goods too declined in the last few days, especially two and four wheelers and all other consumer goods in the super malls, the revenue to the State government through Goods and Services Tax (GST) collections will also come down.
Normally, the State will get huge revenue collections in the last month of the financial year. This year March is different altogether. “The revenues of the government will be less in the last week of the March. The expenditure and payment of bills on some infrastructure works too will be delayed,” an official felt.
The only expenditure being made by the State government in the next 10 days is disbursing 3.36 lakh tonnes of rice at 12 kg per person, which costs the exchequer around Rs 1,103 crore. Besides, the State government will also disburse cash of Rs 1,500 per family, which comes to around Rs 1,500 crore totalling Rs 2,603 crore.
Meanwhile, the Fiance Ministry has also extended the last date of filing GST returns in view of Coronavirus. Filing of return in form GST-3B for February, 2020 has been extended up to April 7.
The annual return in form GST-9 and reconciliation statement for financial year 2018-19 has been extended from March 31 to June 30. The State which has been badly affected by the economic slowdown, is now facing another problem due to lockdown.