UP’s own tax revenue in FY21 just 73% of BE, down 1.6% on year

UP’s own tax revenue in FY21 just 73% of BE, down 1.6% on year

The state government’s earning from transport stood at Rs 5,905.95 crore in FY21, against its target of Rs 8,650 crore, a dip of 31.7%. When compared to 2019-20 collection of Rs 7,173.20 crore, the shortfall was 17.7%.The state government’s earning from transport stood at Rs 5,905.95 crore in FY21, against its target of Rs 8,650 crore, a dip of 31.7%. When compared to 2019-20 collection of Rs 7,173.20 crore, the shortfall was 17.7%.

The pandemic had impacted Uttar Pradesh’s own tax revenue (OTR) during FY21 and the total collection was only 73.1% of the target (Budget estimate). Against the target of Rs 1,66,021 crore in 2020-21, the actual revenue was only Rs 1,21,379 crore.

On a year-on-year basis, the OTR during 2020-21 was 1.6% lower.

Related News

The collections under VAT and GST heads fell short by 26.8% of the target during the fiscal. While the target was to collect 91,568 crore, the actual collections were Rs 67,057.39 crore. However, when compared to last year’s actual collections of Rs 68,832 crores, the Rs 67,057-crore mop-up in 2020-21 is a fall of 2.6%.

Similarly, against the excise collection target of Rs 37,500 crore, the actual collections during the fiscal stood at Rs 30,060.34 crore, a drop of 19.8%. However, when compared to 2019-20 collections of Rs 27,323.29 crore, it shows an increase of 10%.

Similarly, the state government’s recovery from stamps and registration showed a dip of 29%. While the target was to collect Rs 23,197 crore, the actual collections were Rs 16,471.83 crore, which when compared to last fiscal’s performance, when collections of Rs 16,066.15 crore was made, show a gain of 2.5%.

The state government’s earning from transport stood at Rs 5,905.95 crore in FY21, against its target of Rs 8,650 crore, a dip of 31.7%. When compared to 2019-20 collection of Rs 7,173.20 crore, the shortfall was 17.7%.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Leave a Reply

Your email address will not be published. Required fields are marked *