The State Government has received tax revenues to the tune of ₹27,774 crore in excess of budgetary estimates, including the Central share of taxes for the present financial year, according to Chief Minister Basavaraj Bommai.
Disclosing this in the Legislative Assembly on Thursday, the Chief Minister said this had become possible due to the prudent financial management by the Government during a tough COVID-19 year. “We have not increased tax rates, but managed to increase tax collection through appropriate measures,” he said.
Giving a break-up of increase, he said the Commercial Taxes’ revenues had exceeded the target for the first time by ₹5,584 crore which was a record. Buoyancy in tax collection was made possible in the second half of the year, he said. Similarly, Excise revenues had exceeded the target by ₹1,396 crore while the Stamps and Registration Department had collected ₹600 crore in excess of the target.
In addition to this, the State had received ₹2,872 crore of Central taxes in excess of the budgetary estimates while the Central grants too were at ₹2,203 crore more than the estimated figures, he explained. The GST compensation, which was in the form of loans, too was ₹ 14,377 crore more than the estimates, he pointed out.
It is in this context that the Government had tabled supplementary estimates to the tune of ₹ 26,993 crore which accounted for about 10 per cent of the total State Budget size, he noted. The entire amount mentioned in the supplementary estimates had been already received in the form of excess tax collection, he said.
Meanwhile, referring to some of the measures being taken by him to reduce wasteful expenditure and pilferage, the Chief Minister said he had constituted two committees to review the estimates where the total value crossed ₹50 crore. These committees which look into technical and financial aspects would be led by retired High Court judges, he pointed out and added that the process of appointment of judges to these committees would be taken up at the earliest.
The Appropriation Bill was adopted by the House.
Published - March 24, 2022 09:58 pm IST
