While there is an overall growth in revenue generation, spending has also gone up in the State, indicating a healthy economic scenario till August end this fiscal.
A latest analysis by the Department of Finance (DoF) reveals that generation of own revenue has registered an overall growth of over nine per cent, while spending up to August is more than 36 per cent.
While the Budget estimate for 2017-18 of own tax and non tax revenue was Rs 36,300 crore, collection up to August 31 was Rs 12,280 crore. Own tax revenue collection was Rs 9,410 crore and own non tax revenue collection was Rs 2,870 crore.
If one compares this fiscal scenario with corresponding period of last fiscal, during this period, it is much better situation so far as both revenue generation and spending is concerned.
Own revenue generation presents an overall growth of 9.75 per cent and this is without IGST also, as figure of IGST for August, 2017 is not yet available, said sources in the DoF.
Non tax revenue from mining sector has gone up, which has registered 47 per cent growth as compared to first four months of 2016-17.
And higher Entry Tax collection of over 41 per cent growth was achieved mainly due to receipt of arrears. So the authorities in the Directorate of Commercial Taxes are a satisfied lot.
Authorities were worried over revenue collection from the Excise sector as there was Supreme Court orders for closing down liquor shops by the side of State and National Highways, for which more than 1,150 liquor shops were sealed.
However, efficient enforcement and continuous review on tax collection has resulted in growth in Excise revenue and collection up to August 31 was Rs 1,152 crore, which registered at least 10 per cent growth, said sources. Excise revenue collection target for 2017-18 is Rs 3,600 crore, which will be achieved, sources in Department of Excise say.
From mining sector revenue collection target is Rs 6,630 crore and as on August 31, collection was Rs 2,268 crore.
So far as expenditure is concerned, there is an increase of over 22 per cent than the corresponding period of last years.
While State Plan is Rs 53, 360 crore, spending up to August 31 was more than Rs 19, 370 crore. Among the highest spending departments, Water Resources topped the list with Rs 3,596 crore, which was over 45 per cent of the budget estimate. Over last three years, spending in Water Resources has gone up continuously and during 2017-18, allotment is Rs 7,828 crore against Rs 6,000 crore in 2016-17.
Spending in Rural Development has gone up to Rs 1,845 crore and the Department of Works has spent Rs 1,281 crore. Expenditure in Housing and Urban Development sector was Rs 743 crore, while allotment has been hiked to Rs 2,439 crore in 2017-18. While allotment in infrastructure sector is continuously hiked, expenditure is also increasing correspondingly, said sources.