Home Finance 1 L Cr Revenue Collected

1 L Cr Revenue Collected

Bhubaneswar: Despite market slow down, State’s total Revenue collection has crossed Rs 1 lakh crore by the end of third quarter of the current financial year 2022-23.

The total revenue generation from both own tax and non tax sources registered a growth of 5.6 percent by the end of December of current financial year 2022-23 over the corresponding period of last financial year. 

The total revenue of the State has reached at Rs.1,01,119 crore by end third quarters of the current fiscal. 

In spite of negative growth in grants from the central government by about 21 percent, total revenue has been increased by 5.6 percent. 

This was revealed during All Secretary meeting held under the chairmanship of Chief Secretary Suresh Chandra Mahapatra here Wednesday.

Development Commissioner Pradeep Kumar Jena, Forest, Environment & Climate Change Additional Chief Secretary Forest & Environment Mona Sharma along with Additional Chief Secretaries, Principal Secretaries, Secretaries and Special Secretaries of all departments participated in discussions.

Principal Secretary Finance Vishal Kumar Dev has briefed the senior officers about the fiscal position of Odisha in the meeting.

According to official sources, the revenue generation from own tax sources increased by 13.51 percent with a collection of around Rs.32029 crore by the end of December, 2022 against corresponding period of last year’s collection of Rs. 28,216 crore. 

Similarly, with a total collection of Rs. 63523 crore, the revenue from state’s non-tax sources grew by 1.17 percent by end of December 2022 in comparison to the corresponding period of the last year.   

Accordingly, the total revenue generation from both the sources by end of December 2022 has increased around 5.6 percent over the corresponding period of last fiscal. 

Keeping in tune with the revenue generation, the budget utilization by end of December also witnessed a sharp growth of 2.26% over last fiscal year.  The budget utilization in agriculture and allied sector, infrastructure spending, social sector has been increased, the sources said.

Reviewing fiscal performances of various departments, the Chief Secretary directed the departments to avoid parking of funds at the bank account of the implementing agencies so that actual expenditure would be reflected on the common treasury portal. 

He also emphasized on strengthening of internal audit mechanism for wider transparency. 

Shri Mahapatra directed the departments to adopt 5T parameters scrupulously while dealing with financial matters. The submission of Utilization Certificates in time bound manner should be given priority, he said.