Revenue collection surges 29% in Apr-Dec

Revenue collection in the state, in the tax and non-tax segments during April-January period has clocked growth of 28.87 per cent per cent over the corresponding period of last fiscal.

Overall revenue in the said period totaled to Rs 14522.69 crore as against Rs 11269.25 crore recorded in the year-ago period. The state has already achieved 90.18 per cent of the budgetary estimates of revenue collection pegged at Rs 16104.89 crore for 2011-12.

Sales tax collection at Rs 5981.64 crore and Rs 3644.42 crore realized from non-ferrous mining and metallurgical industries were the key drivers of revenue growth. While sales tax reported rise of 20.54 per cent, mining revenue also witnessed healthy growth of 38.75 per cent.

 

Professional tax, however, slid 12.81 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 from Rs 109.42 crore to Rs 95.41crore.

The state's own tax revenue grew 20.81 per cent per cent in April-January to reach Rs 9851.45 crore as against Rs 8154.17 crore recorded in the same period of 2010-11.

Entry tax (levied on goods and passengers) recorded spike of 19.37 per cent at Rs 984.38 crore as against Rs 824.65 crore in the year-ago period.

Land revenue (Rs 334.84 crore), stamps and registration (Rs 403.88 crore) and state excise (Rs 933.97 crore) clocked growth of 50.05 per cent, 20.16 per cent and 26.33 per cent respectively.

Non-tax revenue collection in the period witnessed a spike of 49.96 per cent to reach Rs 4671.24crore as against Rs 2768.47 crore posted in the comparable period of 2010-11. The state has achieved122.96 per cent of BE projected at Rs 3799.06 crore in this segment.

In this tax bracket, tax collection from major irrigation projects zoomed 215.91 per cent at Rs 42.59 crore.

Overall revenue receipts of the state stood at Rs 29460.29 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.