Odisha registers 9% growth in revenue generation

REPRESENTATIVE IMAGE (DH Photo)

Odisha has registered a growth of 9 percent in revenue generation till the end of this October compared to the corresponding period of last financial year, an official said.

Principal Secretary Finance Department A K Meena told a meeting on Friday that revenue generation from non-tax sources grew around 12.24 percent by end of October 2019 in comparison to the corresponding period of the last year with a total collection of around Rs 7399 crore.

The revenue generation from Mining Royalty and Water rate increased around 11 percent and 46 percent respectively, he said adding that the total collection from mining royalty was around Rs 6,054.93 crore against last year's collection of Rs 5,436.54 crore by October end.

Similarly, the revenue generation from own tax sources also increased by 7.56 percent with a total collection of around Rs 17,510 crore against last year's collection of Rs 16,279 crore, Meena said.

The total revenue generation from both the sources by end of October 2019 has increased around 9 percent over the corresponding period of last fiscal, he said adding that in real terms, the total revenue has touched Rs 24,909 crore by end of October 2019.

Chief secretary Asit Tripathy directed the secretaries of all departments to utilize at least 60 percent of the budget by end of December.

The chief secretary directed the departments not to be default in payment of dues and taxes to any authority. All dues to different authorities should be paid by the respective departments, he said.

Keeping in tune with the revenue generation, the budget utilization by end of October also grew around 16 percent over the last fiscal year, an official said. The total expenditure by October end of current fiscal was around Rs 60,848.21 crore against the last year's expenditure of Rs 52,525.40 crore, he added.

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