By Sandeep Pattnaik
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Bhubaneswar, 2nd May 2015: Odisha have been able to garner a total revenue collection of around 27,820 cr during 2014-15, which is 10.09 % more than the last year, according to an official release.
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This includes both State’s own tax and non-tax revenue. There has been marked growth in State’s Own tax revenue particularly in the areas like land revenue, stamp & registration, state excise, entry tax, profession tax, collection of arrear electricity duties and other taxes. The total collection from own tax revenue has been around Rs.19, 996 cr against the budget estimate of Rs 19,862 cr. Similarly, revenue collections from non-tax sources like industrial water rate, forest & wild life, irrigation water, departmental receipts, interests and dividends have exceeded the budgeted target. In spite of the slow down effect, the royalty from mining has been to the tune of Rs.5, 308 cr.
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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 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 Rs.3000 cr. in the context of changed fiscal provisions. Considering all these, it has been tentatively decided to enhance revenue collection to around Rs.32, 000 cr during 2015-16, during a meeting under chief secretary Gokul Chandra Pati held on Saturday here.
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Pati has directed concerned departments to take up reform measures like simplification of tax rules, application of IT and reduction in the cost of compliance to tax norms for augmenting revenue collection during 2015-16. It has been decided that an institutional mechanism will be put in place to introduce reforms, undertake regular review of the collection position and suggest necessary measures for further improvement on regular basis.
