Revenue collection dips post demonetisation
Bhubaneswar: Demonetisation driven financial stress in the market has led to drastic reduction in own tax and non tax revenue collection. By December, the state government had received Rs 20,107 crore tax which is less by one per cent compared to the previous financial year.
On the other hand, in the current financial year the planned expenditure of the state has increased by 19 per cent. By end of last month, Rs 29, 542 crore has been invested whereas in the last financial year the investment by December end was Rs 24,761 crore.
The own tax revenue by December end in 2016-17 financial year is Rs 15, 164 crore. The information was shared at a Secretariat level meeting headed by chief secretary Aditya Prasad Padhi who has directed to complete ongoing projects before starting new projects.
It was also informed in the meeting that the planned expenditure in agriculture and allied sectors is Rs 7020 crores whereas for infrastructure is Rs 8246 crores which shows increase by 6 and 12 per cent respectively as compared to last financial year. In social development sector, the rise is 12 percent with Rs 12, 740 crores spent.