State focuses on boosting revenue

Post News Network

Bhubaneswar, Jan 27: With the budget session of the Assembly set to begin February 6, the state government Tuesday convened a pre-budget consultation meeting for the 2015-16 fiscal.
Chaired by finance minister Pradip Amat at the State Guest House here, the meeting was attended by former finance ministers Prafulla Ghadai, Panchanan Kanungo, finance secretary R Balakrishnan, former secretaries, senior bureaucrats and journalists. With the state government facing economic meltdown after closure of mines and poor Central aid, the meeting focused on finding alternative ways on generating revenue for the state.
Sources said while the state government is facing a loss of around Rs 200 crore from petroleum products, over Rs 12,000 crore of revenue is yet to be collected by various government departments which includes a huge amount of water tax from various industries. “There was a decrease in mining revenue collection in the state. However, we are trying to meet the target by March 31 to generate more revenue in the sector,” Amat told reporters here.
Amat said the government will opt for an amicable settlement with state and central PSUs and others, which have moved courts against the imposition of taxes.
“This is the last year of the 13th Finance Commission. The first year of 14th Finance Commission will start in 2015-16. The planning commission has been abolished and NITI Ayog has been formed. So the size of central assistance will be clear after central budget. Accordingly, we will modify the supplementary budget,” said finance secretary R Balakrishnan.
A full-fledged budget for this fiscal will be prepared based on recommendations of experts during the meeting.