Impressive show on revenue front till Nov, but State still lags behind
The Hindu
Non-tax revenue, grants-in-aid and contributions much lower
The State Government has apparently landed in a piquant situation in terms of finances.
The State registered impressive performance in all sectors, be it revenue from goods and services tax, stamps and registration, sales tax or state excise duties. But from a revenue surplus of ₹ 6,743 crore estimated in the current year’s budget, the State is facing a deficit of ₹6,942.31 crore at the end of November.
The major contributors for the situation are the estimates of grants in aid and contributions and non-tax revenue estimates in the current year’s budget which are not anywhere near the projected figure. The non-tax revenue for the year 2021-22 was estimated at ₹ 30,557.35 crore but the actuals up to November was ₹4,395.12 crore little over 14 per cent of the target.
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