AP finances grow 14.5 per cent

Despite a poor show in commercial tax receipts, the overall collections of the state's revenues during the first four-month period of the current financial year have reported 14.5 per cent growth, thanks to the Excise and Stamps & Registration departments.

While commercial tax receipts showed a meagre growth of 6.3 per cent during the period as compared to the annual target of 14 per cent, Excise and Stamps & Registration wings receipts grew 41 per cent and 38.9 per cent respectively.

Yet the state government is worried over the poor performance on the commercial taxes front post VAT, as more than 60 per cent of its own revenues come from this wing.

The state government has fixed an annual target of Rs 13,156 crore for commercial taxes department as compared to the collection of Rs11,022 crore achieved during the year 2004-05.

Against the proportionate target of Rs 4,148 crore up to July 31, 2005, the realisation has been Rs 3,413 crore, slightly higher than the achievement in the corresponding period in the last financial year.

Excise collections rose to Rs 842 crore during the four-month period as compared to Rs 598 crore in the corresponding period in the last financial year.

Similarly, receipts from Stamps & Registration department stood at Rs 592.89 crore as compared to Rs 426 crore in the first four-month period of the last financial year. Annual revenue projections from Excise and Stamps & Registration departments for the year 2005-06 have been Rs 2,851 crore and Rs 2,400 crore respectively.

Significantly, revenue receipts from transport wing also grew by 15.5 per cent for the four-month period which stood at Rs 405 crore as compared to Rs 426 crore.

The upward revision of liquor prices and also registration charges are said to be important reasons for the impressive performance of Excise and Stamps & Registration departments.