Odisha sets Rs 26,350 cr revenue target

The target includes Rs 18,350 cr towards state's own tax revenue and the rest Rs 8,000 cr in non-tax revenue

Buoyed by Rs 22,926.07 crore revenue collection in 2012-13, the Odisha government has set a revenue target of Rs 26,350 crore for 2013-14, 7.8 per cent higher than the Budget estimate of Rs 24,430 crore set for the fiscal.

The target includes Rs 18,350 crore towards state's own tax revenue and the rest Rs 8,000 crore in the non-tax revenue. The target, in excess of the BE, was set at a high-level review meeting chaired by the Chief Minister Naveen Patnaik.

In the tax revenue category, sales tax collection has been projected at Rs 11,500 crore, excise (Rs 1,900 crore), entry tax (Rs 1500 crore), stamps & registration (Rs 1,100 crore), land revenue (Rs 500 crore), professional tax (Rs 65 crore), electricity duty (Rs 700 crore) and entertainment tax & forest development tax (Rs 80 crore).

In the non-tax revenue bracket, Rs 6,600 crore is envisaged to be collected as mining revenue. Actual mining revenue collection in 2012-13 was Rs 5,674 crore, marginally lower than the chief secretary's target of Rs 5,700 crore for that fiscal.

Tax-GSDP (gross state domestic product) ratio in the state that stood at 6.23 per cent by the end of 2012-13 is expected to improve to seven per cent in the next 2-3 years.

Overall revenue collection in 2012-13 posted growth of 15.29 per cent in 2012-13 to reach Rs 22,926.07 crore as against Rs 19,885.73 crore in 2011-12 and overshooting the Budget estimate (BE) of Rs 20,810.28 crore for the last fiscal.

The collection was boosted mainly by robust mining revenue of Rs 5,674.61 crore and sales tax collection of Rs 9,730.62 crore. Mining revenue grew 24.12 per cent compared to Rs 4,571.54 crore recorded in 2011-12. Sales tax rose by 18.72 per cent in this period.