60% tax revenue target met till Dec

60% tax revenue target met till Dec

Bhartesh Singh Thakur

Tribune News Service

Chandigarh, February 11

The state government, preparing the Budget for 2020-21, is unlikely to achieve the targets it has set for the current fiscal. The overall tax revenue collected from April to December last year was just over 60 per cent of the estimates for 2019-20.

The state had set a target of Rs 62,321 crore, but was able to generate only Rs 37,714 crore, which was 60.52 per cent of the target. During the corresponding period last fiscal, it generated 64.46 per cent of the Rs 58,431 crore- target.

The state had set a target of Rs 6,500 crore from stamps and registration, but was able to achieve only Rs 4,683 crore, which was 72 per cent of the target. It had achieved 92 per cent of the target in the corresponding period last fiscal.

Sales tax collection, including earnings from sale of petrol and diesel, was Rs 6,443 crore, which was 59.12 per cent of the target of Rs 10,900 crore. It was Rs 6,996.70 crore in the corresponding period last fiscal, which was 61 per cent of the target.

The state’s excise duty collection was Rs 5,025 crore, which was 71.79 per cent of the target of Rs 7,000 crore. The state had achieved close to 80 per cent of the target during the corresponding period last fiscal.

In non-tax revenue, including collection from mining, transport and external development charges, the state was able to collect only Rs 4,561 crore, which was 45 per cent of the target. In the corresponding period in 2018-19, the state earned Rs 4,974 crore.

In GST, the state did better. It was able to collect 61 per cent of the target of Rs 22,750 crore. In the corresponding period of the previous fiscal, it had earned 59.21 per cent.

The fiscal deficit till December was Rs 20,338 crore and was expected to touch Rs 30,217 crore by March. Overall receipts and expenditure were more compared to the corresponding period in the previous fiscal.

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