CM sets monthly revenue targets to shore up State finances

Hyderabad : In a move to increase the revenue growth to meet the state financial needs, Chief Minister A Revanth Reddy has drawn an action plan in the current financial year. Monthly revenue targets to achieve the annual goals, restructure of the revenue generating wings, streamlining the GST collections, revision of VAT on aviation fuel, curbing the illicit liquor and plug the loopholes in the sand mining were among the initiatives that would be taken from this month.

The Chief Minister warned that all departments should take strict measures to avoid tax evasion. The CM observed the revenue generation till June in this financial year was not satisfactory when compared to the annual revenue target. He instructed the officials to prepare monthly revenue targets and strive hard to achieve the annual goals. CM Revanth Reddy also said that henceforth, he would conduct a review on the achievement of fixed monthly revenue targets in the first week of every month.

The revenue generating departments have also been given enough freedom to introduce reforms to generate more revenue and also reorgnise the entire department, if necessary. The CM held a review with all revenue generating wings at Secretariat on Thursday.

Apart from the monthly review, Finance Minister Bhatti Vikramarka will also hold a meeting every Friday and review the progress in the achievement of targets by the concerned departments.

The CM emphasised the immediate increase of GST collections, which are considered as one of the main revenue resources for the State. State Commercial Taxes wing officials have been asked to conduct field visits for proper auditing to increase the GST revenue. In view of the decrease of revenue from the VAT on the sale of petrol and diesel, the CM asked the officials to look into the possibility of revising the tax on aviation fuel to compensate for the revenue loss.

The CM inquired about the reasons for not increasing revenues despite the huge sale of liquor during the elections. The Excise officials were asked to keep a strict vigil on the diversion of liquor from the distilleries by using advanced technology.

Measures would also be taken to increase revenue which is being generated through property registrations and stamp duty, as the rates of land and immovable property have already increased in the state.

In order to increase the income from sand and mineral resources, the Chief Minister directed the concerned authorities to stop illegal transportation and leakages. The officials have been asked to conduct a study whether collecting tax on the electric vehicles after the limited period of the tax subsidy affects the sale of the vehicles.