The grants from the Union Government to Odisha are slowing down, which is worrisome for the State Government.
According to the latest report, by the end of September 2017, the State Government has received Rs 8,182.82 crore as Central grants. This is Rs 655 crore less in comparison to what was received by the end of September 2016 and amounts to less than 7.41 per cent of the corresponding period of last year.
The State had received Rs 8,837.96 crore as Central grants by September 30, 2016.
While the State Government is expecting Rs 21,209.85 crore of Central grants during 2017-18, receiving less is matter of worry for it.
This is because the State Government would have to resort to open market borrowings to fulfil the commitments made in the State Budget to undertake developmental projects, said sources.
According to the Budget estimate, a total revenue receipt from all sources has been estimated at Rs 88,931.52 crore during 2017-18 while it was Rs 74,299.39 crore during 2016-17.
Out of the total revenue receipts, the State Government has set a target to collect Rs 36,740 crore from both Own Tax and Own Nontax revenue sources.
While the Own Tax revenue collection target has been pegged at Rs 27,200 crore, the Own Nontax revenue collection target is Rs 9,540 crore.
However, both tax and nontax revenue collection is registering a growth of over 34 per cent, which is heartening, said the sources. Out of the Own Tax target of Rs 27,200 crore, by September 30, the Government has collectedRs 13,844.73 crore.
The Excise revenue collection by September-end was Rs 1,387.63 crore, which is over 38 per cent of the target of Rs 3,600 crore to be collected during 2017-18.
Sales Tax collection was Rs 9,292.36 crore, out of which the State GST is Rs 918 crore and Central GST is Rs 434 crore, said the sources.
The IOCl has paid the arrears, adding to the State exchequer.
The Own Tax collection from land revenue and stamps and registration has slowed down and is presenting a negative growth, admitted officials.
However, Nontax collection from the mining sector has registered a growth f over 41 per cent.
While the Nontax collection target was Rs 9,540 crore, the Nontax collection from the mining sector by September 30 was Rs 2,729.33 crore.