Less Grants For Odisha

The Grants from Union Government to Odisha is slowing down, which is worrisome for the State Government.

According to latest report on Financial Sector, by end of September 2017, the State Government has received Rs.8182.82 Crore as Grants from Centre.
This is Rs.655 Crore less in comparison to the end of September, 2016 and amounts to less than 7.41 Percent of the corresponding period of last year.
Odisha received Rs.8837.96 Crore as Grants from Centre by 30 September, 2016.
While it has been estimated that the State Government is expecting Rs.21209.85 Crore Central Grants during 2017-18, receiving less amount from the Union Government is causing worry for the State Government.
This is because the State Government will have to resort to Open Market Borrowings to fulfill the commitments made in the State Budget to take up developmental projects, said sources.
According to Budget Estimate total Revenue Receipt from all sources has been estimated at Rs.88931.52 Crore during 2017-18, while it was Rs.74299.39 Crore during 2016-17.
Out of the total Revenue Receipts, the State Government has targeted to collect Rs.36740 Crore from both Own Tax and Own Non Tax Revenue Sources.
While the Own Tax Revenue Collection target has been pegged at Rs.27200 Crore, Own Non Tax Revenue Collection Target is Rs.9540 Crore.
However, both Tax and Non Tax Revenue Collection is registering over 34 Percent growth, which is heartening, said sources.
Out of Own Tax Target of Rs.27200 Crore, by 30 September, State Authorities have collected Rs.13844.73 Crore.
Excise Revenue Collection by 30 September was Rs.1387.63 Crore, which is over 38 Percent of the target of Rs.3600 Crore to be collected during 2017-18.
Sales Tax Collection was Rs.9292.36 Crore out of which State GST is Rs.918 Crore and Central GST is Rs.434 Crore, said sources.
IOCL has paid the arrears and it has added to the State Exchequer, said sources.
Own Tax collection from Land Revenue and Stamps and Registration has slowed down and it is presenting negative growth, admit officials.
Non Tax Collection from Mining Sector has registered over 41 Percent growth, which is heartening.
While Non Tax Collection Target was Rs.9540 Crore, Non Tax Revenue Collection from Mining Sector by 30 September was Rs.2729.33 Crore.

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