The State registered overall revenue receipts of ₹61,618 crore at the end of August, just 27.85 % of ₹2.21 lakh crore projected in the budget estimates for the current fiscal.
| Photo Credit: RAMAKRISHNA G
The overall revenue receipts of the State continue to bely expectations of the government.
The State registered overall revenue receipts of ₹61,618 crore at the end of August, just 27.85 % of ₹2.21 lakh crore projected in the budget estimates for the current fiscal. Tax revenue during the five-month period was shade better at ₹57,722 crore, 35.11 % of ₹1.64 lakh crore projected in the budget estimates.
Of the overall revenue, receipts through borrowings and other liabilities took the lion’s share standing at ₹29,466 crore till August-end. The State projected borrowings and other liabilities for the fiscal at ₹49,255 crore and is left with an option to borrow less than ₹20,000 crore with seven months still to go.
The actuals under non-tax revenue and grants-in-aid and contributions continued to be much lower than the expectations. The non-tax revenue was projected at ₹35,208 crore in the budget estimates and the actual till August end was a mere ₹1,449 crore, 4.12 % achievement while that under grants-in-aid and contributions was ₹2,447 crore, 11.31 % of ₹21,636 crore estimated in the budget.
Revenue through sales tax was impressive at ₹13,487 crore, 40.32 % of the ₹33,449 crore of budget estimates while that from Goods and Services Tax and Stamps and Registration was ₹20,500 crore and ₹6,390 crore respectively at the end of August. Earnings in the form of State Excise duties was pegged at ₹7,806 crore, 30.48 % of ₹25,617 crore estimated in the budget while the State’s share of Central taxes stood at ₹6,220 crore (33.83 % of budget estimates of ₹18,384 crore).
On the expenditure front, the State incurred ₹10,497 crore on account of interest payment, 59.21 % of ₹17,729 crore projected for the year and ₹18,152 crore on salaries and wages amounting to 45.33 % of the ₹40,041 crore projected for the year. Payments in the form of pensions was on the higher side at ₹7,165 crore, 61.55 % of ₹11,641 crore projected for the entire fiscal.
The State had revenue deficit of ₹15,521 crore and fiscal deficit of ₹29,449 crore at the end of August, according to the provisional report released by the Comptroller and Auditor General of India. The primary deficit during the period stood at ₹18,952 crore.
Published – September 27, 2024 06:23 pm IST
