LUCKNOW: Despite the challenges posed by the coronavirus pandemic, the state economy is fast heading for recovery and revenue receipts have recorded an increase of Rs 2,522 crore in December 2020 as compared to the recovery registered in the corresponding month in 2019.
Giving this information, finance minister Suresh Khanna said December was the fourth successive month when the state has recorded a hike in revenue receipts as compared to the previous year. Khanna, who also holds the medical education and parliamentary affairs portfolios, giving full credit for the economic recovery to Chief Minister Yogi Aditynanath, said that under his able leadership the state managed to sail through the most difficult phase triggered by the pandemic.
“In December 2020, the state’s total revenue collection stood at Rs 12,530.7 crore in comparison to Rs 10,008.2 crore in December 2019, registering an increase of Rs 2522.5 crore,” he added.
Giving a break-up of the hike in the revenue receipts, the finance minister explained that the GST collection was Rs 4251 crore in December of the current financial year, while in the same month in 2019, it was Rs 3679 crore. Similarly, this December Rs 2271 crore VAT was realised, while in 2019 it was Rs 2072 crore, he said and added that excise collection, too, was raised to Rs 3149 crore this December as compared to Rs 2106 crore in the same month in 2019. The collection under the stamp and registration head stood at Rs 1822 crore in December 2020, while the corresponding figure for 2919 was Rs 1423 crore, Khanna said.
The finance minister further said that the revenue from transport was lagging from September till November 2020 as compared to the collection recorded in 2019. But in December last year the collection from transport too registered an increase of about Rs 200 crore, he added.
The minister, however, admitted that the state has managed to achieve only 86.2% of the current year’s fiscal targets. “We have targeted to recover Rs 14536.47 crore, while the total collection has, so far, reached Rs 12530.7 crore,” he said, but added that it was wrong to say that as “we have not achieved the cent per cent revenue realisation target so far it would hamper developmental works.”
On Samajwadi Party president Akhilesh Yadav’s controversial remarks on Covid vaccine, the minister said it was a ‘highly ridiculous’ statement.