The State’s growth momentum is expected to sustain in 2024-25 with the Gross State Domestic Product (GSDP) projected to grow at 11.68% and the State’s own tax revenue at 10.18% over the 2023-24 revised estimates.
The GSDP growth will be on account of the “sustained growth momentum in the economy,” according to the Medium Term Fiscal Policy and Strategy Statement, tabled in the State Assembly on Monday along with the 2024-25 State Budget.
The share of Central taxes in 2024-25 is expected to grow at 12.20% riding on a higher growth in direct tax collection and Goods and Services Tax mop-up by the Union government.
