The State’s revenue receipts at the end of the April-June quarter reached ₹35,024.72 crore, 16.17% of the ₹2.16 lakh crore projected for the current financial year in the budget estimates.
Tax revenues crossed ₹30,000 crore and reached ₹31,725 crore during the period, registering achievement of 20.8% of the ₹1.52 lakh crore projected for the fiscal. Revenue under various heads, including Goods and Services Tax, Stamps and Registration, State Excise duties, and State’s share of Union Taxes showed no appreciable growth during the quarter with all remaining around 20% of the projections given in the budget estimates.
Revenue through Goods and Services Tax for instance was ₹11,418 crore, 22.41% of the ₹50,942 crore of budget estimates and that through the State Excise duties was ₹4,405 crore (₹19,884 crore in budget estimates) while revenue through stamps and registration was ₹3,510 crore (BE ₹18,500 crore).
Accrual through non-tax revenue remained at ₹1,488 crore, just 6.52% of ₹22,808 crore of budget estimates, and same was the case with Grants in Aid and Contributions which was pegged at ₹1,811 crore, a meagre 4.39% of the ₹41,259 crore of the budget estimates.
Revenue through borrowings and other liabilities placed under Capital Receipts was ₹15,876 crore, 41.52% of the ₹38,234 crore of budget estimates. Interestingly, the Union Finance Ministry had fixed the ceiling of borrowings through the open market at ₹36,617 crore for the current year, citing “over borrowings” during the previous financial years as reason and this would reduce the scope for borrowings by ₹1,500 crore.
Given this background, the State will face a tough time in the coming days to raise resources for meeting financial commitments for schemes like Dalit Bandhu, Gruha Lakshmi and the recently-announced one-time grant of ₹1 lakh each to eligible BC artisans, Muslim and Christian minorities.
