West Bengal likely to fall short of revenue target this fiscal

West Bengal's revenue collection this fiscal is likely to be lower than the projected Rs 45,000 crore, a senior government official said on Saturday.

"The target revenue collection for this financial year is Rs 45,000 crore. The collection was Rs 35,000 crore till January, when the end of the fiscal on March 31, 2015, was less than two months away," the official told reporters.

"There is likely to be some shortfall," the official said.

Last fiscal the revenue collection was Rs 40,000 crore for the state.

He said there had been robust growth in excise, VAT and stamp duty collection.

State Finance Minister Amit Mitra today held a pre-budget meeting with the chambers of commerce and various trade bodies of the state.

"We met the members of the chambers of commerce and trade bodies to get their views on the budget. It has been a very constructive meet," Mitra said.

The state budget would be presented on February 27, a day ahead of the Union Budget.

On GST, he said West Bengal's stand from the very beginning had been that its introduction was welcome but states should not lose revenue.

"It should be a positive sum game and not a zero sum game."

Most of the state's taxes would be subsumed into the GST once introduced.

When asked whether he would be attending the governing council meeting of NITI to be held in the national capital tomorrow, Mitra refused to give any answer.

West Bengal CM Mamata Banerjee is also unlikely to attend the meet.