Orissa may achieve revenue collection target for 2009-10

The Orissa government is likely to achieve the tax and non-tax revenue collection targets fixed in the budget for the current fiscal.

Revival of economic activities, excellent growth in collection of mining revenue and double digit growth in the commercial taxes, a major component of tax revenue, have helped the government in this regard.

Sources said, the collection of tax revenue by the end of January 2010 was 78.53 percent of the budget estimates for 2009-10.

Similarly, the total collection of non-tax revenue was 83.71 percent during the first ten months of the current fiscal.

Collection of own tax and non-tax revenue taken together was Rs 8316.37 crore by the end of January 2010 compared to Rs 7714.8 crore during the corresponding period of the last year.

This is 79.64 percent of the budget target of Rs 10442.16 crore for 2009-10.

The cumulative growth of tax revenue was 9.96 percent while the non-tax revenue grew marginally by 0.97 percent during this period compared to the corresponding period of the previous fiscal.

Interestingly, collection of professional tax entertainment tax, land tax, and levies from non-ferrous mining and metallurgical industries (mining revenue) have already crossed the targets set in the budget.