INSUBCONTINENT EXCLUSIVE:
Hyderabad: The state federal government's income earnings got better in the last quarter of this fiscal (January-March 2021) after staying
low for thefirst 3 quarters (April-Decemer 2020) due to the corona impact.Enthused, the government has actually chosen to take the last
quarterearnings into factor to consider while drafting the new Budget plan 2021-22 to be provided to the Legislature on March 18, main
sources in the financing department said
The decision was handled the basis of directions from Chief Minister K Chandrashekar Rao at the conference he accepted financing authorities
at Pragathi Bhavan to settle the Budget plan propositions
Officials were asked to draft a practical budget, based on the improved profits in the last quarter.This implies that there would not be
much of a variation in the brand-new spending plan size compared to the in 2015's budget though the state federal government's incomes took
a nosedive in the very first quarter (April-June 2020) in the context of the lockdowns and the subsequent slowdown in economy in the next 2
quarters (July-December 2020)
The CM had obtained total information on the government's income profits, sector-wise, from April 2020 to February 2021
The information showed that the earnings failed by 28 percent over the Budget price quotes for 2020-21
Nevertheless, the revenues bounced back to pre-Covid levels in the last quarter (January-March 2021), rekindling the hopes of the state
government on attaining greater profits earnings in the new fiscal 2021-22
The CM's evaluation on the previous fiscal (2020-21) revenues found that, disallowing import tax, none of the sectors could meet the
Versus the Rs26,400 crore target set for business tax collections, Rs20,800 crore can be found in during the April 2020 - February 2021
Profits through BARREL on import tax surpassed the target
Against a target of Rs 11,439 crore, the collections were of Rs 11,675 crore
Concerning GST, Rs 22,205 crore was realised as versus the Rs27,600 crore target.While the target for import tax incomes was Rs16,000 crore,
the revenues touched Rs 13,241 crore
Earnings through stamps and registrations nosedived due to the lockdown from April to June 2020 and later on too due to suspension of home
registrations for 3 months from September to November 2020, to make it possible for launch of the Dharani site
Versus the budgetary target of Rs 10,000 crore, just half-- Rs5,000 crore-- was fulfilled
Incomes through the transportation department was of Rs3,443 crore against the Rs4,300 crore target.Earnings from mines stood at Rs2,077
crore against the target of Rs 5,600 crore
The target to raise funds through auction of federal government lands was Rs25,000 crore, however only Rs 800 crore was understood.
