Though economic slowdown has dented the economy, Karnataka has registered a moderate revenue collection of 73.6% in the first three quarters of the present fiscal (2019-20).
The State’s revenue collection stood at ₹87,862.01 crore on December 31, 2019, against the target of ₹1,19,274 crore set for the year. Chief Minister B.S. Yediyurappa on Monday held a pre-budget meeting with senior officials of all major departments that generate revenue and instructed them to ensure that the target set for the financial year is hit.
Collection of commercial taxes, the largest source of revenue for the government, stood at ₹55,984 crore in December 2019, against the target of 76,046 crore — a target achievement of 73.6%. The revenue generated from excise stood at ₹16,187.95 crore. against the target of ₹20,750 crore — realising almost 78% of the department’s target.
Under Sakala
The Chief Minister said 39 services of the Excise Department have brought under the Sakala scheme of the government and 25 services provided online to crack down on corruption.
The Stamps and Registration Department has contributed ₹8,297.65 crore, against the target of ₹11,828 crore (70.15%), while the Transport Department has collected ₹4,864.8 crore, against a target of ₹7,100 crore (68.51%).
The revenue decline in the Transport Department is largely owing to slowdown in sales of motor vehicles. The State is expected to see a shortfall of ₹300 crore in the current year, Mr. Yediyurappa said.
The royalty earned from mining stands at ₹2,527.61 crore, against the target of ₹3,550 crore, (71%).
Second in GST
With a growth rate of 14.2% in GST, Mr. Yediyurappa said the State ranks second in GST collection in the country, with a contribution of ₹61,245 crore till December 31, 2019.
The State Budget will be presented on March 5, and in the coming days the Centre is expected provide the State’s share of GST, the Chief Minister said. He is expected to hold discussions with representatives of trade bodies and farmers’ organisations to hear their demands and proposals ahead of the budget.
