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State collected `9,500 cr tax in 2021-22, exceeded target: CM Basavaraja Bommai
Karnataka Chief Minister Basavaraj Bommai
The collection of tax of Rs 9,500 crore excluding the motor vehicle tax for 2021-22 exceeded the target, Chief Minister Basavaraja Bommai on Tuesday told the Assembly.
Bengaluru: The collection of tax of Rs 9,500 crore excluding the motor vehicle tax for 2021-22 exceeded the target, Chief Minister Basavaraja Bommai on Tuesday told the Assembly.
Responding to a question on the grant demands of various departments for the year 2022-23, the Chief Minister said that apart from motor vehicle tax, the tax collection expected was Rs 7,500 crore as against the Rs 9,500 crore the State raised.
The target revenue was Rs 1,19,552 crore in 2021-22. The impact of tightening and vigilant action in the third quarter increased the tax collection. By stopping illegal liquor from Goa and other States, the excise tax collections of over Rs 2,000 crore were made possible. By giving 10 percent stamp duty concession, Rs 100 crore more tax was collected. The income from excise tax was Rs 6,000 crore as against Rs 4,000 crore target. Over Rs 500 crore was raised on sale of iron ore.
"We have a target of generating more than Rs 10,000 crore in the 2022-23 financial year through taxable income. We increase the income of taxpayers. Unnecessary costs should be reduced. Otherwise, the financial burden will be put on the people. There was a possibility of borrowing Rs 67,100 crore in the year 2021-22, but we took Rs 63,100 crore."
"We conducted raids on GST defaulters. This yielded results as 20 to 25 companies have paid the tax and one escaped without paying the GST. In the wake this experience, next year we will try to plug leaks and increase the revenue. In 2021-22, the revenue collected was Rs 5,000 crore in the first five months which was the lowest. Then officials suggested the budget should be reduced. But the budget size for 2022-23 is Rs 2,65,720 crore, 7.9 percent more than last year. Rs 14,129 crore has been earmarked for loan repayment. Total revenue receipts increased by 10.23 per cent," he said.
"We are committed to reducing unnecessary costs, increasing revenue, bringing about financial discipline and improving finances," said CM Bommai.
Due to Covid impact economic growth has been stagnant for the past two years. He said, Rs 15,000 crore has been spent on Covid management and other expenses. Rs 6,000 crore for Bangalore city under Amruta Nagarothana project. Rs 4000 crore has been provided to other cities.
Opposition leader Siddaramaiah, speaking to Bommai, suggested maintenance of financial discipline by reducing unnecessary assignments and costs. The proposal for the grant demands of various departments ending May 1, 2023 was approved.
