Odisha Government’s revenue rises by 18% in Financial Year 2020-21

Bhubaneswar: Odisha Government has been able to generate more resources during Financial Year 2020-21 in comparison to a normal Fiscal of 2019-20.

Latest report on collection of State’s revenue reveals that the Odisha Government has achieved more than 18 per cent growth in March 2021 as compared to March 2020.

Collection of both Tax and Non Tax Revenue during 2020-21 clocked Rs 55,511.63, which is all time high though the Fiscal was dented by Covid-19 pandemic.While Own Tax Revenue was Rs 34,421.09 crore, Non Tax Revenue was Rs 21,090.54 crore during 2020-21.Of the Own Tax Revenue, the Commercial Tax collection was Rs 21,090.38 crore, which include VAT, Entry Tax, SGST and IGST share.Excise Collection was less as compared to 2019-20.

While Tax collected from Excise was Rs 3962.37 crrore during 2020-21, it was Rs 4,495.42 crore during 2019-20. Stamp and registration collection also registered better growth during last Fiscal.

While Odisha collected Rs 2,887.89 crore during 2020-21, it registered more than 100 per cent growth as against 2019-20.

The Department of Revenue and Disaster Management geared up for revenue collection, which resulted in achieving 101.26 per cent growth, officials say. However taxes on vehicles were also less during 2020-21 in which Odisha collected Rs 1,776.90 crore, while it was Rs 1,836.32 crore during 2019-20.

Taxes and duties on electricity clocked big rise, which was more than Rs 1,000 crore than 2019-20.Overdrive by the Department of Energy has resulted in big rise as Odisha collected Rs 3,938.13 crore during 2020-21, while it was Rs 2,819.67 crore during 2019-20. The collection from power sector has boosted the Own Tax Revenue in a big way, officials admit.

On Non Tax Revenue front, the Mining and Metallurgical Sector performed much well though the sector was badly hit by Covid-19 pandemic. Collection from non ferrous mining and metallurgical industries went up to Rs 13,591.58 crore during 2020-21.The sector registered a growth of 23.34 per cent as compared to 2019-20, when the collection was Rs 11,020.02 crore. Interestingly, the State set the target of the sector at Rs 12,500 crore during 2020-21, however, the collection crossed the target and came as a big help to the State, admit officials.

Non Tax Revenue collection from interest, dividend, and education clocked much better growth as compared to 2029-10.

However, the Central Share Tax and Grants from the Center came down as compared to 2019-20. The Share Tax from the Centre received a jolt with a negative growth of 9.56 per cent, while Grants from Centre experienced similar fate with a negative growth of 5.79 per cent.