Odisha’s Revenue Generation Till September Grows 8.10%
Bhubaneswar: Odisha’s revenue augmentation shows an upward trend by end of September in fiscal 2019-20, marking a growth rate of around 8.10 per cent over the corresponding period of last fiscal year, a senior official said on Tuesday.
Chief Secretary Asit Tripathy made the announcement following his meeting here with all state Secretaries.
The revenue generation from non-tax sources grew by 10.46 per cent by the end of September in comparison to the corresponding period of the last year, with a total collection of Rs 6,186.48 crore, the official said.
The revenue generation from mining royalty and water cess increased around 14 per cent and 46 per cent, respectively.
The total collection from mining royalty by September end was around Rs 5,207 crore against last year’s collection of Rs 4,580 crore over the same period, the official said.
Similarly, the revenue generation from own tax sources also increased by 7.16 per cent with a total collection of around Rs 15,055 crore, against last year’s collection of Rs 14,049 crore.
Keeping in tune with the revenue generation, the budget utilisation by the end of September grew by 9.15 per cent over the same period of last fiscal. The total expenditure by September was around Rs 46,819 crore.
Reviewing the fiscal performances of various departments, the Chief Secretary directed to budget utilisation be expedited to make up for the backlog caused on account of the model code of conduct in force prior to the general elections.
The departments were also asked to make a realistic reassessment of the financial requirements for the current year keeping in view the supplementary budget 2019-20.
Finance Secretary Ashok Kumar Meena said that the supplementary budget would be presented around mid-November this year.