Revenue receipt fall by Rs 50,000 crore, Fiscal deficit estimates to Rs 66,000 crores
@vivekbhavsar
Mumbai: The Global pandemic of Covid-19 has badly affected the state economy in an unprecedented way in the last financial year. As a result, industry, service, construction, infrastructure and other sectors of the state have been badly impacted. The result is the expected revenue receipts in the financial year 2020-21 was reduced by more than Rs one lakh crore. According to the opposition, this will certainly affect development projects in the new year.
Minister for Finance and Planning Ajit Pawar expressed hope that even though there was an economic slowdown, the government will make full efforts to achieve the revised target of revenue collection.
The revenue collection in the year 2020-21 was expected to Rs 3 lakh 47,457 crores. Due to the reduction of Rs 1,43,666 crores in the state share tax received from the Central Government this year. Hence, the revised target of revenue collection was fixed at Rs 2,89,428 crore. This revised revenue collection includes a revised estimate of Rs 1,84,599 crores on account of the Goods and Services Tax (GST), Value Added Tax (VAT), Central Sales Tax (CST), Professional Tax (PT) and other import taxes.
“Considering the current economic slowdown in the national and state economy, it will not be easy to achieve the revised revenue estimate as above,” said Pawar.
Also Read: Country liquor lovers have to pay more Rs 45 per litre
Even the economic survey report tabled in the last week has shown the result of the effect of lockdown on the industry, infrastructure, construction and service sector badly.
The lockdown made an effect on revenue receipt which has created a shortfall of about Rs one lakh crore.
Pawar while speaking to the media said that the Centre has not yet given a share of GST to the state which is almost Rs 30,000 crore. “At present, there is a deficit of Rs 66,000 crore and if Centre will not transfer state tax share, the deficit will rise to Rs one lakh crore,” said Pawar.
Our budget size is around Rs 4 lakh crore. The state has borrowed a loan of more than 1.5 lakh crore during the lockdown period. But it was spent on salary and pension only. Though this expanse is important, the state did nothing for development, even though the state can borrow the loan. But the CM did not show the daring,” Sudhir Mungantiwar, former finance minister and senior BJP leader criticised the Thackeray government.
Mungantiwar further said that borrowing loan for the development of the state is not wrong. But they did nothing. Now, a shortfall of Rs one crore will affect development works in the new financial year. This budget was baseless and usefulness said the former minister.
Good write-up, I am normal visitor of one?¦s web site, maintain up the nice operate, and It is going to be a regular visitor for a lengthy time.
Woah! I’m really enjoying the template/theme of this site. It’s simple, yet effective. A lot of times it’s challenging to get that “perfect balance” between superb usability and visual appeal. I must say you have done a great job with this. In addition, the blog loads extremely fast for me on Internet explorer. Excellent Blog!
buying cheap clomiphene tablets cost generic clomid without rx get clomiphene without rx where to buy generic clomiphene tablets rx clomid clomid chart clomiphene or serophene for men
More posts like this would add up to the online elbow-room more useful.
azithromycin cheap – metronidazole price buy metronidazole 400mg without prescription
buy semaglutide tablets – order semaglutide pill brand periactin 4mg
buy generic domperidone – buy tetracycline 250mg pill cost cyclobenzaprine 15mg
buy inderal 20mg online – cheap inderal 10mg order generic methotrexate
how to buy amoxicillin – cost amoxil brand ipratropium 100 mcg
augmentin 1000mg brand – atbioinfo cost acillin
order nexium generic – https://anexamate.com/ oral esomeprazole
purchase medex online – cou mamide hyzaar pills
Greetings from California! I’m bored at work so I decided to browse your blog on my iphone during lunch break. I love the info you provide here and can’t wait to take a look when I get home. I’m surprised at how quick your blog loaded on my mobile .. I’m not even using WIFI, just 3G .. Anyways, amazing blog!
Thanks for helping out, wonderful information. “The laws of probability, so true in general, so fallacious in particular.” by Edward Gibbon.
order mobic 7.5mg – mobo sin buy meloxicam generic
erectile dysfunction drug – https://fastedtotake.com/ cheapest ed pills online
fluconazole online order – https://gpdifluca.com/# buy cheap forcan
buy generic cenforce for sale – https://cenforcers.com/# buy cenforce 100mg generic
zantac 150mg over the counter – aranitidine order zantac without prescription
tadalafil lowest price – https://strongtadafl.com/# buy cialis/canada
I am continually browsing online for articles that can assist me. Thx!
viagra buy india – https://strongvpls.com/ buy viagra walgreens
More posts like this would create the online elbow-room more useful. https://ursxdol.com/furosemide-diuretic/
I couldn’t hold back commenting. Profoundly written! order accutane tablets
This is the tolerant of enter I unearth helpful. https://ondactone.com/product/domperidone/
Thanks on putting this up. It’s well done.
https://doxycyclinege.com/pro/topiramate/
Facts blog you be undergoing here.. It’s severely to assign strong calibre belles-lettres like yours these days. I honestly respect individuals like you! Rent care!! http://bbs.yongrenqianyou.com/home.php?mod=space&uid=4271944&do=profile
I’m not sure why but this site is loading extremely slow for me. Is anyone else having this problem or is it a issue on my end? I’ll check back later on and see if the problem still exists.
I always was interested in this topic and stock still am, regards for putting up.
Thank you for your entire effort on this site. My mom delights in participating in internet research and it is easy to see why. All of us learn all concerning the compelling medium you render precious items on the web blog and as well inspire participation from other ones on this matter and my princess is certainly being taught a lot. Take advantage of the remaining portion of the year. Your performing a wonderful job.
buy cheap generic forxiga – https://janozin.com/ buy forxiga cheap
Thanks for the auspicious writeup. It in reality was a entertainment account it. Look complex to far introduced agreeable from you! By the way, how could we keep in touch?
order xenical online cheap – https://asacostat.com/# brand orlistat 60mg
Very interesting subject, regards for posting.
This website really has all of the tidings and facts I needed to this subject and didn’t positive who to ask. https://sportavesti.ru/forums/users/cmtdx-2/
I loved as much as you will receive carried out right here. The sketch is tasteful, your authored subject matter stylish. nonetheless, you command get got an nervousness over that you wish be delivering the following. unwell unquestionably come further formerly again as exactly the same nearly a lot often inside case you shield this hike.
You can shelter yourself and your family close being wary when buying prescription online. Some pharmacy websites control legally and provide convenience, secretiveness, sell for savings and safeguards for purchasing medicines. buy in TerbinaPharmacy https://terbinafines.com/product/doxazosin.html doxazosin
This is the kind of literature I rightly appreciate. buy zanaflex
The sagacity in this tune is exceptional.
Awsome article and right to the point. I am not sure if this is in fact the best place to ask but do you guys have any thoughts on where to hire some professional writers? Thank you 🙂
you have a great blog here! would you like to make some invite posts on my blog?
As I website possessor I believe the content material here is rattling magnificent , appreciate it for your efforts. You should keep it up forever! Good Luck.
Hi there! This post couldn’t be written any better! Reading through this post reminds me of my previous room mate! He always kept talking about this. I will forward this article to him. Pretty sure he will have a good read. Thank you for sharing!
Some truly fantastic information, Gladiola I discovered this.