Slow pace of growth in revenue receipts continued in September with the State government reporting total receipts of ₹87,207.22 crore.
The total revenue receipts were 40.27% at the end of the first half of the current financial year with State excise duties and non-tax revenue crossing 60% of the budget estimates. Revenue through State Excise duties at the end of September was ₹12,225 crore, marking 61.63% of the ₹19,884 crore projected in the budget estimates while non-tax revenue increased to ₹16,896 crore against the projected ₹22,808 crore during the same period. Revenue from the sale of lands is said to be the prime source for the steep increase in non-tax revenue.
The State’s borrowings and other liabilities continue to be on the rise at ₹31,351 crore, 72.41% of the ₹38,234 crore projected in the budget estimates with six more months to go for the completion of the current financial year. Tax revenue in the form of Goods and Services Tax, Stamps and Registration, Sales Tax, State’s share of Union Taxes and other heads remained stable at ₹66,691 crore, 43.73% of the ₹1.52 lakh crore of the budget estimates. The huge shortfall in the Grants-in-Aid and contributions continued for six months in a row with the State reporting ₹3,619 crore at the end of the first half, just 8.77% of the ₹41,259 crore projected in the budget estimates, according to the provisional data submitted to the Comptroller and Auditor General of India.
On the expenditure side, salaries/wages and pensions continued to be major contributors with ₹20,276 crore and ₹8,491 crore respectively while expenditure on interest payment crossed ₹11,265 crore, 50.27% of the ₹22,407 crore estimated in the current year’s budget. Against the estimates of revenue surplus of ₹4,881 crore at the end of the fiscal year, the State’s revenue deficit was pegged at ₹4,107 crore at the end of the first half. The fiscal deficit during the period was ₹31,333 crore and the primary deficit was pegged at ₹20,068 crore as against ₹33,655 crore projected for the year.
