Virendra Singh Rawat / Lucknow
Recovering from the pandemic blues, Uttar Pradesh has reported a 70 percent jump in revenues to Rs 14,140 crore in May 2022 compared to May 2021.
Against the revenue collection of about Rs 8,274 crore in May 2021, the corresponding kitty this year is higher by Rs 5,866 crore.
According to UP finance minister Suresh Khanna, the robust tax and other revenues suggested that the state government had successfully minimised the impact of pandemic on the economy.
In the UP Annual Budget 2022-23 tabled by the Yogi Adityanath government last month, the state has estimated total receipts of Rs 5.9 trillion in the current financial year, including revenue receipts of Rs. 4.99 trillion and capital receipts of Rs 91,739 crore.
The share of tax revenue in UP revenue receipts is estimated at nearly Rs 3.67 trillion. It comprises the state’s own tax revenue of Rs 2.2 trillion and UP’s share in central taxes of Rs 1.46 trillion.
Therefore, it is imperative for the state to clock higher tax and non-tax revenue to meet its budgetary targets and provide adequate funding to the government departments as well as for flagship projects in different sectors, including expressways, airports, highways etc.
Meanwhile, the state has reported receipts of Rs 7,659 crore in Goods and Services Tax (GST) and Value Added Tax (VAT) kitty compared to Rs 5,057 crore in May 2021. However, the GST/VAT collection is only about 76 percent of the monthly target of nearly Rs 10,100 crore.
Under the excise head, the state collected Rs 3,414 crore, which is 71 percent of the monthly target.
Besides, UP mopped up Rs 2,022 crore under the stamps and registration head in May 2022 compared to just Rs 626 crore in May 2021.
Similarly, its May 2022 collection in the transport department stood at Rs 793 crore, which is Rs 479 crore more than earnings in the corresponding month of 2021-22.
Under the non-tax revenue head of mines and minerals, UP earned Rs 251 crore compared to Rs 136 crore in May 2021.
In 2021-22, the state government had posted total revenues of almost Rs 1.48 trillion compared to Rs 1.23 trillion in 2020-2021.
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In April 2022, the UP kitty stood at Rs 12,854 crore against Rs 11,196 crore in the corresponding period last year. This shows that the state is clocking a consistent rise in revenue collection.