Revenue collection surges 28% in Apr-Dec

Revenue collection in the state, in the tax and non-tax segments during April-December period has clocked growth of 28.24 per cent per cent over the corresponding period of last fiscal.

Overall revenue in this period totaled to Rs 12789.91 crore against Rs 9973.52 crore recorded in the year-ago period.

The state has already achieved 79.13 per cent of the budgetary estimates of revenue collection pegged at Rs 16104.89 crore for 2011-12.

Sales tax collection at Rs 5254.11 crore and Rs 3270.98 crore realized from non-ferrous mining and metallurgical industries were the key drivers of revenue growth. While sales tax reported rise of 20.33 percent, mining revenue also witnessed healthy growth of 40.22 per cent.

Professional tax, however, slid 13.07 per cent on account of rationalization of tax structure that saw many professionals out of the tax net.

The professional tax collection in the period fell fromRs 98.43 crore to Rs 85.56 crore.

The state's own tax revenue grew 20.40 per cent in April-December to reach Rs 8675.23 crore as against Rs 7205.05 crore in the same period of 2010-11.

Entry tax (levied on goods and passengers) rose by 21.55 per cent at Rs 866.90 crore as against Rs 713.18 crore in the year-ago period.

Land revenue (Rs 304.72 crore), stamps and registration (Rs 368.02 crore) and state excise (Rs 835.49 crore) clocked growth of 48.06 per cent, 21.98 per cent and 21.71 per cent respectively.

Non-tax revenue collection in the period witnessed a spike of 48.63 per cent to reach Rs 4114.68 crore against Rs 2768.47 crore posted in the comparable period of 2010-11. The state has achieved 108.31 per cent of BE projected at Rs 3799.06 crore in this segment.In this tax bracket, tax collection from major irrigation projects zoomed 253.79 per cent to Rs 32.97 crore.

Overall revenue receipts of the state stood at Rs 25419.50 crore by December-end, factoring in share tax and grants from the Centre. Revenue receipts have been budgeted at Rs 36383.36 crore for 2011-12.