Despite restoration of economic activities, the funding from the Central kitty to Odisha continues falling down drastically, which is a major concern of the State Government.
With a total Revenue Receipt target of Rs 1,25,600 crore, the State Government has expected to get Rs 68,100 crore from the Union Government as Share Tax and Central Grants during 2021-22 fiscal.
However, by October 31, 2021, the State has received only Rs 23,528.73 crore, which is 15.25% less compared to October 2020. In real figures, during April to October of 2021-22, the State got Rs 4238.68 crore less than what it had got during the same period of previous fiscal year. Up to October, 2020, it had received Rs 27,763.41 crore.
Moreover, the State has estimated to get Grants of Rs 37,963.32 crore from the Centre during the current year. Till October 2021-end, it has received only Rs 9,596.57 crore, which is 31.49% less than the amount received up to October last year.
Similarly, against the budget estimation of 2021-22 to get Rs 30,136.68 crore share on Central taxes, the State has received Rs 13,932.16 crore till last month-end. Though the amount received on Share Tax head is 1.28% more than the previous year’s figure, it is not satisfactory as the funding is 19.22% less than received till October 2019, said an official.
It seems there is more stress on the Central Government and expectation was also more on the Centre with high targets for both Share Taxes and Central Grants.During 2020-21 Odisha received Rs 50,295.90 crore from Central Transfers, which include Share Tax and Central Grants.
However, tough the State is eyeing more from the Centre, getting much less as compared to corresponding period of last year causing concern for the State Government.While the flow of Central Grants and Share Taxes has gone down, the State has succeeded to improve its collection from both Own Tax and Own Non Tax Revenue sources.
The target for both Tax and Non Tax revenue for 2021-22 is Rs 57,500 crore, out of which Rs 37,500 crore is from Own Tax and Rs 20,000 crore from Non Tax sources. The total revenue collection from both sources till October-end has increased by 75.37% against the collection of the same period of last year. So, both Tax and Non Tax collection till October 2021 was Rs 45,516.61 crore while the collection till October 2020 had been Rs 25,955.16 crore.
The Own Tax Revenue collection registered a 29.42% growth till October of 2021-22 as compared to corresponding period of 2020-21 while Non Tax Revenue collection growth has gone up by 152.59%. Own Tax Revenue collection by October 31, 2020 was Rs 16,273.84 crore and Non Tax Revenue collection was Rs 9,681.32 crore.
However, as on October 31, 2021, collection of Own Tax and Non Tax has gone up to Rs 9,681.32 crore and Rs 24,454.32 crore, respectively. So, more collection of Tax and Non Tax Revenue Receipts from State is helping the State Government to fund more developmental projects, said officials.