Odisha's total revenue up 8% in 2013-14

Mining revenue, motor vehicle tax slide

Odisha’s tax and non-tax revenue in 2013-14 totalled to Rs 25,093.87 crore, recording a modest growth of 8.57 per cent over 2012-13 as tax collection from segments like mining royalty and motor vehicle tax decelerated in the period.

The state’s overall tax collection in 2012-13 at Rs 23,112.23 crore had risen by 16.23 per cent.

In 2013-14, the non-tax revenue was flat increasing from Rs 8,078.03 crore to Rs 8,202.14 crore. Slump in mining revenue is a major dampener. Mining revenue slowed 3.11 per cent to Rs 5,515 crore in FY 14 compared to Rs 5,695.70 crore in 2012-13.

In the non-tax revenue base, collection from forest & wildlife and major irrigation projects have come down by 50 per cent each.

It may be noted that the state missed its Budgetary target in own tax revenue collection in the last fiscal. Against the Budgetary estimate of Rs 17,605 crore, actual collection was Rs 16,891.73 crore, an achievement of 95.95 per cent. The state’s own tax revenue, however, logged 12.36 per cent growth over Rs 15,034.20 crore in 2012-13.

Sales tax, the single biggest contributor to the state’s own tax revenue kitty, rose 10.78 per cent from Rs 9,684.68 crore to Rs 10,728.55 crore. The highest growth was recorded in entry tax levied on goods and passengers. Entry tax went up 20.18 per cent to reach Rs 1,613.45 crore from Rs 1,342.54 crore in 2012-13.

The government has anticipated a revenue surplus of Rs 1,120.13 crore by the close of 2014-15 projecting revenue receipt and revenue expenditure of Rs 62,916.76 crore and Rs 61,796.44 crore respectively. Fiscal deficit is estimated at Rs 9,856.03 crore by the end of next fiscal, 2.98 per cent of the gross state domestic product (GSDP) estimated at Rs 3,30,390 crore.

The state’s own tax and non-tax revenue is pegged at Rs 27,512.65 crore, 12 per cent rise over Rs 24,580 crore in 2013-14.