Revenue Collection Up

While there is overall growth in revenue generation, spending has also gone up in the State, indicating a healthy economic scenario till August end in this Fiscal.

 
Latest Financial Analysis by the Department of Finance (DoF) reveals that generation of own revenue has registered an overall growth of over nine percent, while spending up to August is more than 36 percent.
 
While Budget Estimate for 2017-18 of own tax and non tax revenue was Rs.36,300 Crore, collection up to 31 August was Rs.12,280 Crore. Own tax revenue collection was Rs.9410 Crore and Own non tax revenue collection was Rs.2870 Crore.
 
If one compares this fiscal scenario with corresponding period of last fiscal, during this period, it is much better situation so far both revenue generation and spending is concerned.
Own revenue generation presents an overall growth of 9.75 Percent and this is without  IGST also, as figure of IGST for August, 2017 is not yet available, said sources in DoF.
Non tax revenue from Mining Sector has gone up, which has registered 47 Percent growth as compared to first four months of 2016-17.
And higher Entry Tax collection mainly due to receipt of arrears over 41 percent growth was achieved. So the Authorities in the Directorate of Commercial Taxes are a satisfied lot.
Authorities were worried over revenue collection from Excise Sector as there was Supreme Court orders for closing down liquor shops by the side of State and National Highways, for which more than 1150 liquor shops were sealed.
However, efficient enforcement and continuous review on tax collection has resulted in growth in Excise Revenue and collection up to 31 August was Rs.1152 Crore, which registered at least 10 percent growth, said sources.
Excise Revenue Collection target for 2017-18 is Rs.3600 Crore, which will be achieved, sources in Department of Excise say.
From Mining Sector revenue collection target is Rs.6630 Crore and as on 31 August collection was Rs.2268 Crore.
So far expenditure is concerned there is an increase of over 22 Percent  than the corresponding period of last years.
While State Plan is Rs.53, 360 Crore, spending up to 31 August  was more than Rs.19370 Crore.
Among the highest spending departments, Water Resources topped the list with Rs.3596 Crore, which was over 45 Percent of the Budget Estimate.
Over last three years, spending in Water Resources has gone up continuously and during 2017-18, allotment is Rs.7828 Crore, which was Rs.6000 Crore in 2016-17.
Spending in Rural Development has gone up to Rs.1845 Crore and Department of Works has spent Rs.1281 Crore.
Expenditure in Housing and Urban Development sector was Rs.743 Crore, while allotment has been hiked to Rs.2439 Crore in 2017-18.
While allotment in infrastructure sector is continuously hiked, expenditure is also increasing correspondingly, said sources.


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