The Jharkhand government’s income through revenue receipts and taxes fell by over Rs 5,000 crore in the current fiscal of 2020 compared to the last year. The state government collected total receipts worth Rs 30,753.27 crore between April 1 and October 31, 2020. The earnings during the same period in the 2019-20 fiscal year were Rs 35,068.82 crore.
The state’s earnings from revenue receipts and tax revenue (direct and indirect taxes) stood at Rs 27,534.23 crore and Rs 17,699.43 crore, respectively. The state’s earnings from its share of central taxes stood at Rs 9,845.43 crore, which fell by Rs 1,670.62 crore from the last year. The state’s own tax revenue, comprising of excise duty, SGST, stamp duty, land revenue and registrations among others, stood at Rs 7,586.4 crore, which fell by Rs 983.13 crore compared to the same period last fiscal. The earnings through non-tax revenue stood at Rs 9,834.8 crore. The state’s gross earnings were around Rs 65,000 crore in the last fiscal.
Finance Secretary Himani Pandey said that the revenue collection suffered a jolt due to the lockdown but there are green shoots developing in the past few months and sectors like transport, mining and others are picking up gradually.
The state exchequer suffered heavy losses due to the lockdown. In the first quarter, we had practically no revenues coming in from VAT on petroleum products, excise and mining royalties. Now, we are hopeful that revenue collection is headed towards normalcy,” -Finance Minister Rameshwar Oraon.
Following the cabinet’s nod, the government imposed new VAT on petrol and diesel and additional cess on mining of minerals such as coal, iron ore, bauxite, limestone and manganese to shore up revenue.
