The State collected a total of revenue of Rs27, 820 crore in the year 2014-15, registering a 10.09-per cent increase over the preceding fiscal. It was revealed at a meeting held under chairmanship of Chief Secretary GC Pati at the State Secretariat here. Additional Chief Secretary Finance R Balakrishnan presented the tax updates and outlined issues for discussion.
The amount collected includes State’s own tax and non-tax revenue. There has been a marked growth in State’s own tax revenue in areas like land revenue, stamp and registration, excise, entry tax, profession tax and arrear electricity duties. A total of Rs19, 996 crore has been collected as own tax revenue against the Budget estimate of Rs19,862 cr. Similarly, revenue collections from non-tax sources like industrial water rate, forest and wild life, irrigation water, departmental receipts, interests and dividends have exceeded the Budgeted target. A total of mining royalty of Rs5,308 crore has been collected.
It was revealed that Central assistance for about eight schemes have been delinked and cost sharing pattern in about 33 schemes also have been changed. Experts opine that devolution of more tax to States as per 14th Finance Commission recommendations on one hand and delinking of many schemes from Central assistance along with the changed sharing pattern in many of the Centrally-sponsored schemes on the other have the net effect of additional liability on State exchequer of Odisha. The State is likely to lose around Rs3,000 crore in the context of changed fiscal provisions. In view of this, it was decided to enhance revenue collection to around Rs32, 000 crore during 2015-16.