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Revenue Growth By 21.36%

Bhubaneswar: State’s own revenue collection from both tax and non-tax revenue has been increased by 21.36 percent till July of the current fiscal year 2022-23.

According to State’s Fiscal Report, the total revenue collection was Rs 30,201.98 crore during April to July of 2022 while the State had collected Rs 24,886.87 crore during the same period of previous financial year.

The own tax revenue collection stood at Rs 14,389.15 crore upto July of the current fiscal against the collection of Rs 11,311.21 crore during the same period of last fiscal. Therefore, the own tax revenue collection has witnessed a growth of 27.21 per cent till July end.

Under own tax sources, the State has collected Rs 6058.27 crore SGST, Rs 3374.54 crore sales tax, Rs 2034.80 crore excise revenue, Rs 1224.04 crore electricity duty, Rs 676.35 crore MV tax, Rs 119.83 crore land revenue, Rs 691.04 crore of stamps and registration fee, and Rs 130.27 crore from other taxes and duties.

Similarly, the State has collected its own non-tax revenue of Rs 15,812.83 crore till July of the current financial year, which is 16.48 per cent more than the collection of last year. 

Under the non-tax revenue, mining royalty has contributed the lion share. The collection from non-ferrous mining & metallurgical industries was Rs 13,980.59 crore till July 2022, against the collection of Rs 12854.95 crore during the same period of last year. The mining revenue has witnessed a marginal growth of 8.76 per cent till July 2022.

Till July, Odisha had been able to collect 32.18 per cent of the total mining revenue of Rs 43,444 crore estimated for the entire financial year 2022-23.

The collection from dividends and profits has been increased substantially to Rs 573.85 crore till July 2022 while Rs 297.19 crore revenue collected from major and minor irrigation projects.

During the current financial year, the State Government has made an estimate to collect Rs 46,000 crore from tax revenue and Rs 48,200 crore from non-tax revenue sources. Of which, till July end, the State was able to collect 31.28 per cent in tax revenue collection and 32.81 per cent in non-tax revenue collection.

In total, Odisha has been able to collect 32.06 per cent of the total budget estimation of Rs 94,200 crore till July end of this year.