The State’s revenue receipts during the first two months of the current financial year reached close to ₹20,000 crore with revenue at the end of May pegged at ₹19,956.2 crore.
Tax revenue during the first two months stood at ₹18,751.39 crore with tax revenue during May registered at ₹9,459.42 crore, slightly higher than ₹9,291.97 crore of April. Earnings in the form of Goods and Services Tax reached ₹6,223 crore in the first two months, achieving 14.75% of the ₹42,189.47 crore projected in the budget estimates. Registration and Stamps revenue too reached ₹2,586 crore, registering 16.58% of the ₹15,600 crore of the revenue estimated for the entire fiscal.
The State’s share of union taxes registered single digit growth at 9.64% reaching ₹1,195.54 crore against the year’s estimate of ₹12,407.64 crore while the State Excise duties during the period were pegged at ₹2,599 crore against the estimated ₹17,500 crore, achieving 14.86%. Revenue through sales tax reached ₹4,872 crore at the end of May, little higher than ₹2,308 crore reported during April and this was 14.76% of the ₹33,000 crore projected for the fiscal.
There has been good rise in the other taxes and duties which were pegged at ₹1,274.69 crore registering 21.6% of the budget estimate of ₹5,902.22 crore for the current year. Borrowings and other liabilities placed under the revenue receipts was however ₹274.95 crore, just 0.53% of the ₹52,167.21 crore projected for the entire year and this was because of the restrictions imposed by the Union Finance Ministry on the State’s open market borrowings.
Interest payments for the first two months was pegged at ₹3,162.25 crore, 16.72% of the ₹18,911 crore estimated for the entire year while expenditure on salaries/wages and pensions too was on the higher side. Expenditure on account of salaries/wages for the first two months was pegged at ₹6,078.52 crore while that on the pensions was pegged at ₹3,017.68 crore. Expenditure on account of subsidy, including the power subsidy for the first two months, had been pegged at ₹1,368.95 crore, 11.36% of the ₹12,049 crore projected for the entire year, according to accounts at a glance released by the Comptroller and Auditor General of India.
