The State’s revenue receipts at the end of the first quarter of the current financial year remained stable at ₹37,513.08 crore registering an achievement of 19.43 % of the targetted ₹1.93 lakh crore for the fiscal.
Tax revenue continued to be impressive at ₹29,212.41 crore, 23.07 % of the ₹1.26 lakh crore projected in the budget estimates. Goods and Services Tax contributed the maximum of ₹9,645.14 crore during the quarter, marking 22.86 % of the budget estimates while revenue through Stamps and Registration continued to be impressive at ₹3,815.35 crore, 24.46 % of the target set for the financial year.
The non-tax revenue grew significantly to ₹6,874 crore, achieving 27.04 % of the ₹25,427 crore target set in the budget estimates. Thanks largely to the government’s decision to auction plots and residential units constructed under Rajiv Swagruha, the State reported close to ₹6,000 crore non-tax revenue during June reaching ₹6,874 crore from ₹913.61 crore in the first two months of the fiscal.
Revenue through grants in aid and contributions remained sluggish at ₹1,425.71 crore, registering just 3.48 % of the targeted ₹41,001 crore in the budget estimates. The State Excise duties continued to be buoyant at ₹4,158.96 crore while earnings through Sales Tax too were impressive at ₹7,479.22 crore. The government has estimated revenue of ₹17,500 crore and ₹33,000 crore under the two heads for the current fiscal.
Borrowings categorised under capital receipts were reported at ₹5,436 crore following the Central government’s permission to raise open market borrowings on an ad hoc basis. On the revenue expenditure side, expenditure on account of debt servicing was reported at ₹4,930 crore, while expenditure on salaries/wages and pensions continued to be on the higher side at ₹8,853.27 crore and ₹4,645.91 crore respectively during the quarter, according to the provisional data submitted to the Comptroller and Auditor General of India.
The State reported revenue deficit of ₹663.37 crore and fiscal deficit of ₹5,436 crore during the quarter with primary deficit pegged at ₹505.53 crore.
