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State Upbeat With Revenue Collection

Bhubaneswar: State Government is upbeat with the collection of own revenue during the month of January 2021 as it registered over 15 per cent growth.

However, the usual Central Transfer of Revenue continued low and achievement on both Share Tax and Grants from Center registered negative growth.

According to the latest analysis report on collection of State’s revenue as compared to that of January 2020, it has registered 15.7 per cent growth helping the progressive growth in own revenue to reach 7.2per cent.

The own tax revenue collection up to January 31, 2021 was Rs. 25,167.92 crore, which was Rs.25,441.86 crore by January 31 last year.

While the target to collect own tax during fiscal 2020-21 is Rs.38,350 crore, the collection during last 10 months have been 65.63 per cent.

The commercial tax collection by January 2021 was Rs.15,630.43 crore, while it was Rs.16, 455.59 crore as compared to CPLY.

Excise Tax collection was less than 19 Percent as compared to CPLY, said officials.

Motor Vehicle tax collection was less than 20 per cent with Rs.1146.99 crore collection by January 31.

In January 2021, the collection of own tax was Rs.3226.20 crore, which could have been achieved more but last two days of January were holidays.

Own non-tax (ONT) revenue collection target for fiscal 2020-21 is Rs.17,650 and by January 31, 2021 was Rs.13,545.38 crore.

This registered growth of nearly 27 per cent over corresponding period of last year (CPLY) while the  ONT was Rs.10,673 crore by January 31, 2020.

The mining sector contributed the maximum in ONT revenue collection. By end of January, 2021, this crucial sector contributed Rs.9878.26 crore achieving more than 13 per cent growth as compared to CPLY.

Hence, the total own tax and non-tax revenue collection by January 31, 2021 was Rs.38, 713.30 crore and it was Rs.36114.88 crore CPLY.

According to the officials, Odisha was expecting Rs.36,299.74 crore of share tax and Rs.32,000.26 crore of grants from Center during Fiscal 2020-21.

However, the share tax from Center received by the State Government by January 31 was Rs.18926.76 crore, which was less than 23.62 per cent as compared to CPLY.

Similarly, Grants from Center has also gone down with the collection by 31 January, 2021 was Rs.17,629.59 Crore, which is also less than Rs.16.79 Percent as compared to CPLY.

While the total revenue receipts has crossed Rs.75,000 crore, by January 31, 2021, it was over Rs.74,000 crore by January 31, 2020.

To be very specific, the total revenue receipts by January 31, 2021 was Rs.75,269 crore while it was Rs.82,081.43 crore on January 31,2020.

According to estimates, the overall revenue receipts registered negative growth of 8.30 per cent as Central share and grants dwindled heavily. 

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