Bhubaneswar: Even after taking all possible steps, the state government has failed to keep its revenue collections intact. The government has recorded a massive fall of Rs 1,010.42 crore in its revenue collection during 2016-17 fiscal compared to the previous financial year.
According to official sources in the Finance Department, the state government had collected Rs 31,238.20 crore revenue during the financial year 2015-16. However, in the last fiscal, the collection stood at Rs 30,227.78 crore. It means the revenue collection decreased by 3.23 per cent, or Rs 1,010.42 crore, in FY17 in comparison to FY16.
Though the government’s own-tax revenue collection has increased sharply by 1.22 per cent, the non-tax revenue has fallen drastically by 14.76 per cent. In terms of rupees, the own-tax revenue collection figure stood at Rs 22,802.23 crore, while the figure was Rs 22,526.96 crore during the previous year. The total non-tax revenue collection in FY17 was Rs 7,425.55 crore.
According to sources in the Finance Department, revenue collection in FY17 decreased due to fall in mining revenue, stamp duty and registration fees, as also exemption of Value Added Tax (VAT) for Indian Oil Corporation products.
The government had collected mining royalty of Rs 5,798.96 crore during FY16, while the same fell to Rs 4,834.33 crore during the last fiscal, which means a drop in total mining revenue collection by 16.63 per cent.
Sources said though there was no problem in production from mines, revenue collection was impacted due to market slowdown and decrease in prices of minerals in the international market.
Similarly, land revenue collection fell by 21.86 per cent, while collection from stamp duty and registration fees decreased by 36.81 per cent primarily because of demonetisation of Rs 1000 and Rs 500 notes, the sources said.
Owing to the concession granted to IOCL, the government suffered a revenue loss of Rs 1,080 crore, which is a major cause for the decrease in revenue collection, the sources explained.
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