IN ODISHA REVENUE COLLECTION IS UP BY 34 PERCENT

IN ODISHA REVENUE COLLECTION IS UP BY 34 PERCENT 6/12/2011

Revenue collection in Odisha grew by 34.42 per cent in the April-September period of the current fiscal helped mainly by robust collection from non-ferrous mining and metallurgical industries as the state achieved more than half of the budgetary estimates for the fiscal in the first two quarters.

The state's tax and non-tax revenue totaled Rs 8429.49 crore by September-end, compared to Rs 6271.11 crore registered in the corresponding period of previous fiscal.

The budgetary estimate for tax as well as non-tax revenue was projected at Rs 16104.89 crore for 2011-12.

Mining royalty collection at Rs 2260.07 crore was the key driver of revenue growth, reporting a surge of 52.91 per cent over Rs 1478.05 crore achieved a year-ago.

Odisha being largely a consumer state, the revenue collection is buoyed by consumption oriented taxes that have shown a healthy growth in the first two quarters.

Besides, the spate of construction activities has boosted collections in segments like land revenue and stamps & registration, a senior official of finance department said.

Professional tax, however, slid 15.77 per cent on account of rationalization of tax structure that saw many professionals out of the tax net.

The state's own tax revenue grew 24.37 per cent in April-September to reach Rs 5682.94 crore as against Rs 4569.53 crore recorded in the same period of 2010-11.

Sales tax had the lion's share in this category, with the collection standing at Rs 3407.06 crore and representing growth of 23.64 per cent over comparable period of last fiscal.

Entry tax (levied on goods and passengers) surged 27.18 per cent at Rs 566.38 crore as against Rs 445.34 crore in the year-ago period.

Land revenue (Rs 202.80 crore), stamps and registration (Rs 247.18 crore) and state excise (Rs 585.17 crore) clocked growth of 64.62 per cent, 18.78 per cent and 30.12 per cent respectively.

Non-tax revenue collection in the April-September witnessed a spike of 61.41 per cent to reach Rs 2746.56 crore as against Rs 1701.57 crore posted in the same period of 2010-11.

The state has achieved 72.30 per cent of BE projected at Rs 3799.06 crore in this segment.In this tax bracket, tax collection from major irrigation projects zoomed 1017.58 per cent at Rs 23.26 crore.

Overall revenue receipts of the state stood at Rs 16068.05 crore by September-end, factoring in share tax and grants from the Centre.

Revenue receipts have been budgeted at Rs 36383.36 crore for 2011-12. ( SCOURCES)

SIDDHARTHA SHANKAR MISHRA
BUREAU CHIEF, THESE DAYS,
ODISHA