Karnataka revenue receipts could exceed estimates by Rs 800 crore

Karnataka revenue receipts could exceed estimates by Rs 800 crore

This aspect has been made out in the Mid-Term Review of state finances for the year 2010-11 presented to the Assembly by Chief Minister B S Yeddyurappa, who is also in-charge of finance department.

The total revenue receipts of the state at the end of September 2010 were Rs 25,326.79 crore including the state's own tax revenue of Rs 17,873.97 crore and the share of Central Taxes of Rs 3,882.90 crore, which amounted to 47 per cent of the budgeted revenue receipts for the year, the report noted.

On projecting the state's own tax revenues based on receipts during the first six months of the year for the full year, there is likely to be an excess realisation in commercial taxes to the extent of Rs 500 crore, motor vehicles Rs 200 crore and excise revenue of Rs 300 crore as compared to the budget estimates of 2010-11, it said.

However, a shortfall of Rs 200 crore in the realisation of stamps and registration fee is expected for the year.

The total expenditure (excluding loan repayment) as at the end of September 2010 is of the order of Rs 26,269.15 crore, including a revenue expenditure of Rs 22,110.73 crore and capital expenditure of Rs 4,158.42 crore.

The report said its commitments on expenditure was likely to be increased by approximately Rs 1,500 crore this year as a result of a greater than anticipated increase in the number of beneficiaries for schemes like food subsidy, social security pensions, 'Bhagyalakshmi', provision of bicycle to students, incentive to milk producers and subsidy for concessional loans to farmers.