With an overall revenue collection in Odisha falling, State planners are worried over the sharp shortfall. In coming months, it is expected to go down further due to the low consumption of goods and less utilisation of services after the demonetisation, feel senior officials.
In November, as the Government allowed to deposit old currency notes for payment of taxes, the situation was somehow saved and sales tax, excise duty and taxes on vehicles registered a positive trend. But collection of land revenue and stamp and registration duties nosedived to a large extent, resulting in an overall negative growth.
While the target of Own Tax Revenue for 2016-17 is Rs 25,700 crore, by November-end Rs 13,593 crore was collected, which is nearly 52 per cent of the target. With hardly four months left and the demonetisation impact being fully felt, achieving the target of revenue collection looks difficult, admits officials. Sales tax collection was Rs 7,715 crore, but there was a mere 2.64 per cent growth whereas excise revenue registered a 13-per cent growth with a collection of Rs 1,732 crore.
The demonetisation has adverse affect on liquor consumption and liquor sale has gone down, for which it would be difficult to collect the targeted Rs 3,300 crore, feel officials.
Motor tax collection is registered at Rs 694 crore, registering a growth of a mere 12 per cent. Collection of stamps and registration tax was hit hard with a minus 41- per cent collection of Rs 1,075 crore while land revenue collection also had a negative growth of 24 per cent.
On the nontax revenue collection front too, a negative growth was registered with the metal sector resulting in a 23.55-per cent slide than the corresponding period of 2015. By November 30, the revenue collection from the mining and metallurgical sector was only Rs 2,589 crore while the 2016-17 target is to collect Rs 7,000 crore, which looks a herculean task, admit officials.
In fact, nontax revenue collection from the metal and mining sector has been continuously sliding as the market is sluggish since 2014-15, and State Government officials are worried over this.
Both tax and nontax revenue collections registered a negative growth by November-end as it was Rs 17,892 crore while it was Rs 17,967 crore by the end of November 2015.
While tax collection has registered a negative growth, collection of share tax from the Centre also registered a minor growth of 2.78 per cent as it came to Rs 9,957.41 crore by November 30, 2016.
However, grants from the Centre came as saving grace with Rs 9,957.41 crore by November 30, 2016, which was Rs 8,012 crore during the corresponding period of 2015.