With all major revenue heads failing to meet their set targets, the state government is staring at a major financial crisis ahead of the budget.
With all major revenue heads failing to meet their set targets, the state government is staring at a major financial crisis ahead of the budget. The state finance department had set a target of Rs1,21,000 crore as the total revenue receipts this fiscal, but the income from the four major sources — sales tax, stamp duty, excise duty and vehicle tax— has not even touched the Rs1,00,000 crore mark.
The stamps and registration department had been given the target of Rs15,600 crore against which it has accumulated Rs 5,961 crore to date. The state excise and sales tax receipts have reached Rs5,082 crore and Rs36,724 crore, respectively against their target of Rs8,500 crore and Rs 46,000 crore, respectively.
Taxes on vehicles, too, have not been able to achieve the target despite rising number of vehicles even in tier II cities of the state.
The receipts from taxes on vehicles was Rs2,955 crore against the target of Rs4,000crore.
Sensing the sorry state of affairs of the state coffer, chief minister Prithviraj Chavan and his deputy Ajit Pawar held a meeting a couple of days ago.
The departments have been directed to consolidate the maximum possible revenue in the remaining period of the current fiscal.
Chief secretary Ratnakar Gaikwad has written to all district and city police heads to go soft on liquor suppliers. He has directed the police heads not to seize liquor stock and let the stock off by imposing fines.
According to officials, the financial situation worsened after the Centre reduced the release of funds for various schemes.
For instance, the central funds received under the Accelerated Irrigation Benefit Programmes (AIBP) have been reduced by Rs1,800 further.
Similarly, the funds released by the Central government for schemes implemented under the Jawaharlal Nehru National Urban Renewal Mission and Basic Services to the Urban Poor (BSUP) have been reduced.
Ajit Pawar, while presenting the last state budget, had estimated the budget of 2011-12 to be surplus by Rs58 crore.
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