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Mineral Boosts Revenue

With Mineral Sector on an upbeat mode, the State Government has registered a huge growth of over 67 Percent in Mining and Metallurgical Revenue collection in comparison to last year.


Revenue generation from Non Ferrous Mining and Metallurgical Industries has gone up to Rs.3790 Crore by 31 August, 2018, which was Rs.2268 Crore on 31 August, 2017.
 
Latest Collection of State Revenue Report reveals that on the Month of August Rs.731 Crore was collected from Mineral Sector, which is all time high.

Both Tax and Non Tax Collection by 31 August in the State has touched Rs.16, 244.98 Crore, which was Rs.11,788.75 Crore during the corresponding period of last year.

Target for 2018-19 on Tax and Non Tax Revenue collection is set at Rs.39,850 Crore by Chief Secretary Aditya Prasad Padhi and he is harping on achieving the same, while asking the officials to scale up tax collection activities.
 
On Own Tax Revenue front, Rs.2365.90 Crore has been collected, which is a growth of 32.45 Percent over last year and officials are happy about it, sources said.

Sales Tax has achieved a growth of 29.60 Percent with collection of Rs.1467.79 Crore and Excise Tax has registered a growth of 25.10 Percent over last year.

Stamps and Registration has slowed down and it registered a Negative Growth of Minus 38.38 Percent, which is a huge loss, feel officials.
 
By 31 August, 2018 collection from this sector was hardly Rs.442 Crore, which was Rs.1152 Crore.
 
From Non Tax Revenue sources, collection by 31 August was Rs.4432.71 Crore out of which Metal Sector contributed Rs.3790 Crore.

While it is expected that Grants from Union Government will be Rs.24,764 Crore during 2018-19, by 31 August the State Government has received Rs.10,549.85 Crore.
 
Share Tax from Centre is expected at Rs. 36,585 Crore during 2018-19, while by 31 August State Government has received Rs.12, 410 Crore.
 
So total Revenue Receipts, which covers Tax, Non Tax Central Share and Grants from Union Government by 31 August has reached Rs.39, 205.14 Crore, which was 30,644.81 Crore during 2017.
 
This is nearly 28 Percent growth over corresponding period of last year, which is satisfactory , admits officials.
 
On State Goods And Services Tax (SGST) sector, collection is now Rs.3336.67 Crore, however both State and Centre are worried over such poor show.
 
With less collection of GST, Union Government is coughing out more and more compensation amount, which is hitting the Centre badly.
 
State Government received GST Compensation of Rs.282 Crore in July from Centre.
 
In the meantime, Union Finance Secretary has urged the State Government to scale up efforts to collect more GST from the State, said sources.
 
 
 


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