Bhubaneswar: With the economic slowdown hitting the automobile sector of the country hard, apparently because of the faulty policy of the Modi government, the state’s revenue collection from motor vehicles has gone down by nearly 12 per cent as of August 2019.
The Motor Vehicle (MV) tax collection up to August 2019 of this financial year was Rs 618.13 crore while the revenue collection from this sector was Rs 699.82 crore during the corresponding period of the previous fiscal, sources said.
Due to sluggish auto sales, the state government is likely to miss its target of collecting Rs 2,025 crore from Motor Vehicle taxes in the current financial year, the source added.
The registration of motor vehicles is coming down continuously. During April of 2018-19 FY, the state had registered 86,886 vehicles, but it has come down to 74,825 in April of 2019-20 FY. In May 2018, registration of new vehicles stood at 80,065. However, it came down to 65,972 in May this year.
While 73,765 new vehicles were registered in June last year, the number has gone down to 64,064 in June 2019. The number of vehicle registrations in July 2018 was 71, 753, but it has fallen to 53,645 in July 2019, they said.