E-Paper
UP govt rakes in ₹18660.30 crore more revenue in 2023-2024
The highest earnings of ₹1,06,271.79 crore came from GST/VAT. This includes ₹75157.81 crore from GST, according to the state government’s revenue collection data
LUCKNOW Uttar Pradesh government collected ₹18,660.30 crore more tax and non-tax revenue in 2023-2024 compared to the previous financial year. Its total revenue collections were ₹1,93,329 crore in 2023-2024, up from ₹1,74,668.80 crore in 2022-2023. The 2023-2024 collections were around 74.3% of the annual target of ₹2,60,232 crore.
The highest earnings of ₹1,06,271.79 crore came from GST/VAT. This includes ₹75157.81 crore from GST, according to the state government’s revenue collection data.
A compensation of ₹4070.30 crore received from the Centre up to March 2024, however, has not been included in the GST collection figures. Adding the Centre’s compensation will take the GST to ₹79,228.11 crore.
However, the state government’s VAT collections have gone down this year. It earned ₹31113.98 crore from VAT, which is lesser than ₹31993.90 crore in 2022-2023. Excise contributed ₹45570.74 crore to the total revenue while stamps and registration contributed ₹26960.20 crore. The transport department earned ₹10539.06 crore while mines and minerals (non-tax) contributed ₹3987.31 crore to the total earnings.
UP finance minister Suresh Khanna was not available for comment. Those aware of the development, however, said the state government should step up measures to mobilise tax and non-tax collections.
“Under the prevailing situation, 74.3% realisation of revenue against the annual target may be satisfactory. But the state government needs to analyse factors that led to the shortfall in revenue. Its achievements can be even 100%,” said Professor Pramod Kumar, director, Giri Institute of Development Studies, Lucknow.
“The state government may draw satisfaction from the fact that its tax and non-tax collections increased in 2023-2024. If compared to budgetary estimates, there appears a shortfall. It’s surprising that there is a shortfall in GST and VAT collections. This should be a cause of concern and measures should be taken to augment revenue collections, keeping in view rising expenditure obligations,” said Professor Yashvir Tyagi, former head of economics department, Lucknow University.
