Home Environment Own Revenue On Rise

Own Revenue On Rise

While the State is facing COVID-19 Pandemic, due to aggressive efforts, collection of Own Revenue has registered better performance than last year during first half of this Fiscal.Total Own Tax and Non Tax Revenue Collection has crossed Rs.25,000 Crore Mark and even the State Government collected sizeable Non Tax Revenue than the corresponding period of 2019.

Latest Revenue Collection statistics shows that Odisha Government has collected Rs.25, 571.42 Crore of Own Tax Revenue by 31 October, 2020, which was Rs.25,002.84 Crore by 31 October, 2019.

Own Non Tax Revenue has registered more than 23 Percent growth and higher growth of such revenue has come as a big support as the State requires more resources for financing the higher Budget Allocations.
While Own Tax Revenue collection declined by 6.84 Percent, Own Non Tax Revenue collection registered 23.41 Percent growth for which it saved the situation, officials say.

Most of the major items of Own Tax Revenue have experienced decline till October, 2020 over the previous year due to the impact of COVID-19 lockdown and shutdown, officials admit.

However, higher collections in the recent months are showing signs of recovery and in coming months, there will be positive growth, they say.
While collection of Own tax Revenue was Rs.17,469.58 Crore by 30 October, 2019, it went down to Rs.16,274.82, which declined by 6.84 Percent.
While Stamps and Registration collection saved the situation by registering 118 Percent growth due to registration of New Mining Leases, earned Rs.2030.65 Crore by 30 October, 2020.
However, State Excise received jolt with a decline of more than 36 Percent and Motor Vehicle tax also collected less 32 Percent over corresponding period of 2019.
Land Revenue registered 14 Percent growth and Taxes and Duties on Electricity registered more than 10 Percent.
During August, September and October Own Tax and Non Tax Revenue collection has shown signs of recovery and in November it will be a much better experience for the State Government, officials expecting better results.
Mining Royalty registered more than 10 Percent growth over the previous year as this sector is showing signs of recovery from the slump.
While by 30 October, 2019 Mining Royalty collection was Rs.6070.47 Crore, State Government collected Rs.6693.42 Crore registering better growth than last year, officials say.
Total Non Tax Revenue collected by 30 October was Rs.9296.60 Crore, which was Rs.7533.26 Crore during corresponding period of 2019, officials admit.
Other Non Tax Collection registered 188.90 Percent growth, which helped the state to collect more revenue in this regard, they say.

While Own Tax Collection efforts have been expedited, mopping up of more resources out of money parked in Bank Accounts is being taken up as an overdrive, officials admit.

Nearly Rs.2800 Crore has already been received so far, more funds parked in Bank Accounts are likely to return as there is aggressive move in this regard, officials say.

These efforts will be completed by 30 November as the Departments are taking up the matter seriously.