Jaipur: The monetary situation of the state is dangerous. This has been confirmed within the new FRBM report launched by the Finance Department. Under this, the income loss grew to become Rs 36354 crore. In this report launched until 30 September 2024, though the federal government has proven a rise of 6.90 p.c in its personal tax income within the first 6 months of the monetary 12 months, the rise in debt of Rs 608813 crore stays the Achilles’ heel of the federal government. The scenario is that the mortgage of Rs 6 lakh 40 thousand 687 crore was estimated, in opposition to which the mortgage of Rs 6 lakh 8 thousand 813 crore has been exceeded. The Finance Department had launched the FRBM report from April to September 2023 throughout the time of the earlier authorities, because of which the deficit has elevated by Rs 2962 crore within the report launched from April to September 2024.
The income loss throughout the earlier authorities was Rs 36354.38 crore.
From 32395 crores to 36354.38 crores in April to September 2023
However, the federal government’s personal tax income is predicted to extend by 6.90 p.c within the first half of 2024.
State Goods and Services Tax income has elevated by 7.95 p.c, excise income has elevated by 14.61 p.c.
There has been a decline of 1.04 p.c in VAT income.
There has been a decline of 0.50 p.c within the state’s personal non-tax income in 2024-25.
In this, SGST elevated by 7.95 p.c and stamp and registration elevated by 9.27 p.c.
Vehicle tax elevated by 7.56 p.c
Whereas land income decreased by 1.96 p.c
At the identical time, there was a severe discount of 135.20 p.c within the tax (entry tax) on Goods and Passengers.
The state’s non-tax income decreased by 1.01 p.c in 2023-34 in comparison with 2022-23.
Non-tax income for April-September of this monetary 12 months was 36.19 p.c of the finances estimates, which was 30.49 p.c in April-September 2023.
The authorities’s non-tax income for April-September 2024 stood at Rs 8202.08 crore in comparison with Rs 8243.33 crore throughout the identical interval final 12 months.
The state grant obtained in April-September 2024 was Rs 9295.64 crore as in comparison with Rs 9523.72 crore throughout the interval April-September 2023. There was a decline of two.39 p.c from final 12 months.
This is a ray of hope
The authorities’s revenue from taxes i.e. tax income has elevated by 11.70 p.c in comparison with this era of final 12 months.
Mining and petroleum stay the most important sources of revenue for the federal government this time too.
There has been a big improve within the authorities’s personal tax income and complete tax income as in comparison with final 12 months.
The authorities’s personal tax income has elevated by 6.90 p.c.
In this, a rise of seven.95 p.c has been recorded in State GST, 9.27 p.c in Stamp and Registration and seven.56 p.c improve in Vehicle Tax.
According to the report, the overall tax income of the federal government is Rs 81 thousand 290 crore which was Rs 72 thousand 776 crore in the identical interval final 12 months.
In this tax income, each the federal government’s personal tax income and the quantity obtained from the central authorities have elevated.
The authorities has to date spent 40.45 p.c of the finances estimate. This quantity is 9.95 p.c greater than the expenditure incurred in the identical interval final 12 months.
If we speak about debt, the debt on the federal government has elevated in comparison with final 12 months. In this time’s revised finances, the debt of the federal government was estimated at Rs 6 lakh 40 thousand 687 crore. Out of this, until now the federal government has incurred a debt of Rs 6 lakh 8 thousand 813 crore.
After this image, it’s thought of troublesome to get well the monetary situation immediately however the improve within the authorities’s personal tax income has given hope, nevertheless, it may be delivered to fruition solely by taking corrective steps.
