Kerala’s tax revenues up in 2022-23 over previous fiscal, says CAG audit report on State finances
The Hindu
Kerala's revenue receipts and GSDP growth, along with expenditure trends, detailed in CAG audit report for 2022-23.
Kerala’s revenue receipts rose by 13.79% in 2022-23 over the previous fiscal, with the State’s own tax and non-tax revenues showing a growth of 23.36% and 44.50% respectively, the audit report of the Comptroller and Auditor General (CAG) on State finances for the year-ended March 31, 2023 said.
The Gross State Domestic Product (GSDP) registered an 11.95% growth in 2022-23 over 2021-22. During this period, Kerala’s revenue expenditure dipped by 2.89%. While the State’s share of Union taxes and duties increased by 2.47%, the grants-in-aid from the Union government fell by 8.79%, the report said.
The report was tabled in the Kerala Legislative Assembly on Tuesday (October 15, 2024).
Total revenue receipts rose from ₹1,16,640.24 crore in 2021-22 to ₹1,32,724.65 crore in 2022-23.
Of this, the total tax revenue – own tax revenue plus share of union taxes and duties – rose by 18.47% to ₹90,228.84 crore from ₹76,160.61 crore. Own tax revenue rose from ₹58,340.52 crore to ₹71,968.16 crore – though slightly below Budget estimates — and the share of union taxes, from ₹17,820.09 crore to ₹18,260.68 crore.
Non-tax revenue went up from ₹10,462.51 crore to ₹15,117.95 crore.
The CAG report noted that revenue collection under all components of State’s own tax revenue showed an “increasing trend” in 2022-23.