The State Government has received tax revenues to the tune of ₹27,774 crore in excess of budgetary estimates, including the Central share of taxes for the present financial year, according to Chief Minister Basavaraj Bommai.
Disclosing this in the Legislative Assembly on Thursday, the Chief Minister said this had become possible due to the prudent financial management by the Government during a tough COVID-19 year. “We have not increased tax rates, but managed to increase tax collection through appropriate measures,” he said.
Giving a break-up of increase, he said the Commercial Taxes’ revenues had exceeded the target for the first time by ₹5,584 crore which was a record. Buoyancy in tax collection was made possible in the second half of the year, he said. Similarly, Excise revenues had exceeded the target by ₹1,396 crore while the Stamps and Registration Department had collected ₹600 crore in excess of the target.
