Bhubaneswar: With the increase in revenue collection in each passing month, the total own-tax revenue of the State Government has registered a growth of 17.73% till June of the current financial year in comparison to the same period of last fiscal.
Vishal Dev, Principal Secretary Finance is regularly monitoring the revenue collection, which is on rise. According to official sources, the State has collected Rs 12,122.12 crore own tax revenue during April to June of 2023-24 against the collection of Rs 10,296.90 crore during April to June of 2022-23. The own tax revenue witnessed a significant growth on account of good performance by GST and electricity duty.
The State has collected Rs 5625.45 crore GST upto June 2023 against the collection of Rs 4350 crore during the same period of previous year, thereby registering a growth of 29.30 percent.
Similarly, the taxes and duties on electricity witnessed a significant growth of 52.58 per cent during the first quarter. The collection from this source of revenue has been increased to Rs 1345.45 crore (upto June 2023) from Rs 881.82 crore (upto June 2022).
However, the own non-tax revenue collection has witnessed a contraction of 18 percent during the first quarters of this year compared to previous year. Rs. 10,658.55 crore was collected towards Own Non-Tax Revenue till June, 2023 whereas Rs.13,040.65 crore was collected during the previous year. Therefore, there is a contraction of 18% compared to previous year. This contraction is primarily because of a shortfall in mining revenue, the sources said.
The mining revenue has decreased by 15,33 per cent during the first three months of FY 2023-24.
The total revenue receipt during the period is Rs.35,429.72 crore. Total revenue receipt was increased by 12.8 percent till June, 2023 compared to the same period during the previous. Share in Central tax increased by 65.7 percent and grants from the Centre increased by 20.8 percent till June, 2023 compared to the same period during the previous year.
On the other hand, the total expenditure as percentage of Budget provision is 14.63 percent compared to 12.29 percent during the same period previous year.
Utilization in the Agriculture & Allied sector is 16.90 percent compared to 16.05 percent previous year while infrastructure spending is 15.88 percent against 9.26 percent of previous year. The utilization of the budget in the social sector is 15.92 percent compared to 14.33 percent last year.
The Programme expenditure as percentage of Budget provision is 12.16 percent till June, 2023 compared to 10.20 percent during the same period of previous year. The expenditure is much below the target of 25 percent to be achieved by June.
The Programme Expenditure in agriculture & allied sector till June, 2023 was 17.12 percent of Budget Estimates compared to 14.94 percent of the previous year.
The Programme expenditure in the infrastructure sector till June, 2023 has remained 16.88 percent of BE compared to 7,80 percent recorded in the previous year.
Moreover, the social sector Programme expenditure is 12.06 percent of the Budget Estimation compared to 8.53 percent recorded in the previous year. The Programme Expenditure in other sectors has been 6.28 percent compared to 12.95 percent in the previous year.
Different departments have been asked to expedite the expenditure for full and proper utilization of Programme Budget enabling successful implementation of flagship schemes of the State Government. Higher focus is to be on Capital Expenditure and timely completion of projects. Parking of funds in Bank Accounts outside the Consolidated Fund of the State should be avoided, the Departments have been advised during the last all-Secretary meeting.
All Departments had been requested to submit their monthly and Quarterly Expenditure Plan to the Finance Department by April 25, 2023 for consolidation and finalization of Department-wise realistic Expenditure Plan. So far 21 Departments have submitted the plan. Therefore, the remaining Departments asked to work-out and submit the expenditure plan on priority.
