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Time of India
3 days ago
- Business
- Time of India
Chandigarh administration misses capex targets, exceeds revenue spending
1 2 Chandigarh: In the just-concluded financial year (FY) 2024-2025, the Chandigarh administration once again missed the capital expenditure targets. As per the budget 2024-2025 estimates, Rs 655 crore was allocated under capital expenditure, which was to be spent on development works and the creation of new assets. However, as per the Comptroller and Auditor General of India (CAG) accounts report, UT could spend Rs 472 crore, meaning around 27% of the capital outlay wasn't used. In FY 2023-2024, around 38% of the sanctioned capital expenditure remained unutilised as per the CAG report. In FY 2023-2024, the capital outlay for the city at Rs 722 crore was higher than in FY 2024-2025. By the end of FY 2023-2024, the administration could spend only Rs 442 crore of the capital outlay sanctioned under budget estimates. A similar trend was witnessed in FY 2022-2023, when against the budgetary allocation of Rs 539 crore, the actual expenditure by March 2023 was Rs 240 crore. The UT couldn't spend nearly 55% of the capital outlay. In comparison to falling short on capital expenditure targets, UT in FY 2024-2025 exceeded its revenue expenditure targets. Against a budgetary allocation of Rs 5,858 crore under the revenue expenditure head for FY 2024-2025, the UT spent Rs 6,396 crore. In the previous financial year too, the UT overspent on its budgetary allocation for revenue expenditure. Against a Rs 5,636 crore outlay, the UT spent Rs 6,376 crore. In FY 2022-2023, again the UT exceeded the budgetary allocation of Rs 5,216 crore by the actual spending under the revenue head at Rs 5,669 crore. "Usually, the funds from the capital head are reappropriated to fill the gap in the revenue head. The adverse effect of it generally shows in the following financial year when the Centre can increase the expenditure under the revenue head and reduce it under the capital head in line with the UT spending pattern," said a UT official.
The Hindu
26-05-2025
- Business
- The Hindu
Tamil Nadu's capital expenditure grew over 16% in fiscal 2025
Tamil Nadu's capital expenditure grew over 16% to ₹46,076.54 crore in fiscal 2025, when compared to ₹39,540.90 crore in fiscal 2024, according to the preliminary un-audited provisional figures from the Comptroller and Auditor General of India (CAG). Capital expenditure (capex) goes towards creation of fixed assets, such as roads and bridges, irrigation structures, schools, hospitals, along with investments made in Public Sector Undertakings. It helps in improving economic activity and generating employment. The capital expenditure for fiscal 2025 is also in line with the projection made in the revised estimates. The overall Capital Expenditure in the Revised Estimates was projected at ₹46,766 crore, as compared to ₹47,681 crore in the initial Budget Estimates for 2024-25, as per the State Budget for 2025-2026. 'The 16% growth in fiscal 2025 indicates a sustained focus on capex by the State government. The capex growth achieved in fiscal 25 provisional is much better than the compounded annual growth rate (CAGR) of 12.3% during fiscal 2018-2024,' Paras Jasrai, associate director, India Ratings & Research, said. He said this is a positive development. 'In fact, a better way to look at it is comparing the actual overall capex (including loans and advances) as a proportion of the budgeted numbers. A closer look at the data reveals that Tamil Nadu has met 95.2% of the budgeted target in fiscal 2025, which is much better than fiscal 2024 number of 86.2% and 95.4% in fiscal 2023, as well as the average of 88.1% during FY18-FY24,' Mr. Jasrai said. According to him, the State has also fared better in terms of quality of expenditure. The quality of expenditure can be gauged by capital outlay to total expenditure (COTE). The COTE stood at 12.2% in fiscal 2025 provisional numbers and has hit a three-year high (it was 12.6% in fiscal 2022), Mr. Jasrai said. The metric for fiscal 2025 provisional is also better than the average of 11.4% during fiscal 2018-fiscal 2024. For fiscal 2026, the State government has estimated capital expenditure of ₹57,231 crore, which is a growth of 22.38% from the revised estimates for fiscal 2025. The total capital outlay of the State, including Net Loans and Advances, is estimated at ₹65,328 crore in the Budget Estimates 2025-26. 'Capex remains a sustained focus for the government, which is quite favourable for the continuing the economic momentum in the state. The State has been actively focusing on fiscal consolidation as evident even in the FY26 budget,' Mr. Jasrai said.
Time of India
22-05-2025
- Politics
- Time of India
First water commission for river mgmt gets cabinet nod
1 2 Ranchi: The state cabinet on Thursday approved a proposal to set up a state water resources commission for the integrated development of all river basins and its efficient management. The commission, a first in Jharkhand, comes at a time when many rivers, including Harmu and Subernarekha in Ranchi, are dying due to pollution, illegal sand mining and encroachment over the years. In other parts of Jharkhand such as Bokaro (through which Damodar flows), mining pollution has been a major cause of concern for the rivers. Cabinet secretary Vandana Dadel said the water resources department will form the commission and its tenure would be two years. "Development commissioner will be the chairman while its member secretary will be the water resources department secretary. This apart, there will be few more subject matter experts as its members," she said. The ministerial council approved 10 proposals in Thursday's meeting. In another significant decision, cabinet gave its nod to distribution of free textbooks and notebooks to the students of all categories enrolled in classes 9-10 in minority secondary schools, madrasas and Sanskrit schools operating with non-governmental aid in the state. "Expenses to the tune of Rs 4.85 crore is estimated for this," she said. The cabinet also granted a proposal of the school education and literacy department to print and distribute science magazines and competitive books. "Science magazines will be given monthly for classes 9-12 across 2,723 schools while different competitive books will be provided to students of class 11-12 in 996 schools. This will incur an estimated cost of Rs 14.20 crore per year," she said. Dadel said the idea behind this move was to inculcate scientific temper among students, expose them to various ideas and education material and enable them support for preparing for various exams. Approval was also granted for the formation of the Jharkhand Manpower Procurement (Outsourcing) Manual, 2025, which will now pave way for a streamlined process for roping in contractual workers on outsourcing basis in different govt departments. "The manual details on various aspects for hiring manpower on outsourcing, their pays cales, insurance coverages among others for various departments. Hiring on outsourcing can be done for a maximum five years at one go and then fresh bidding process has to be resumed at departmental levels," she added. The cabinet also okayed presentation of the Comptroller and Auditor General of India's State Finance Audit Report for the year ending March 31, 2024, in the upcoming session of the Jharkhand Legislative Assembly.
The Hindu
18-05-2025
- Business
- The Hindu
Tamil Nadu's own tax revenue grew by 7.6% in 2024-25
Tamil Nadu's own tax revenue stood at ₹1,80,225.53 crore in fiscal 2024-25, up about 7.6% from ₹1,67,105.18 crore in fiscal 2023-24, as per the preliminary un-audited provisional figures from the Comptroller and Auditor General of India (CAG). In 2024-25, State's Own Tax Revenue (SOTR) was estimated at ₹1,92,752.43 crore in Revised Estimates, when compared to the projection of ₹1,95,173 crore made in the Budget Estimates, as per the State Budget for 2025-26. The SOTR contributes 75.3% of Tamil Nadu's total revenue receipts. Among its components, the State Goods and Services Tax (SGST) increased by 14.4% from ₹61,960.29 crore in 2023-24 to ₹70,886.65 crore in 2024-25, as per the numbers from the CAG. The State also saw its revenue from Stamps and Registration Fees increase to about 15% from ₹19,013.36 crore in 2023-24 to ₹21,878.27 crore in 2024-25. Marginal growth Other components have seen only marginal growth, according to the CAG's the preliminary figures. Land revenue increased from ₹255.87 crore in 2023-24 to ₹277.72 crore in 2024-25, as per preliminary numbers. Revenue from Taxes on Sales, Trade etc., (which includes VAT on petrol, diesel, and liquor) increased from ₹60,026.96 crore in 2023-24 to ₹62,335.08 crore in 2024-25. The State Excise Duties (which reflect liquor revenue) increased from ₹10,774.29 crore in 2023-24 to ₹11,055.41 crore in 2024-25. Revenue from other taxes and duties declined from ₹15,074.41 crore in 2023-24 to ₹13,792.40 crore in 2024-25. The balance of Tamil Nadu's total revenue receipts come from Non-Tax revenue, the Share in Central taxes, and grants-in-aid from the Union government. The Share in Central taxes for 2024-25 was ₹52,491.88 crore. This is in line with what was projected in the revised estimates for 2024-25. Grants-in aid from the Union government was ₹16,509.38 crore for 2024-25, when compared to ₹20,538.40 crore in the revised estimates for 2024-25. Non-Tax Revenue was ₹31,388.70 crore in 2024-25, when compared to ₹28,124 crore in Revised Estimates. Including these components, the State's total revenue receipts stood at ₹2,80,615.49 crore in 2024-25, as per the preliminary figures from the CAG. The total revenue receipts estimates for 2024-25 was revised to ₹2,93,906.41 crore.
The Hindu
16-05-2025
- Business
- The Hindu
Telangana registers ₹1.67 lakh crore revenue till March end, 75.85% of ₹2.21 lakh cr projected for FY 2024-25
The Telangana government has registered overall revenue receipts of ₹1.67 lakh crore during the financial year 2024-25. The revenue receipts, including capital receipts in the form of market borrowings to the tune of ₹48,322 crore, indicated that the State could achieve little over 75% target of the ₹2.21 lakh crore projected for the financial year. The State had borrowed ₹64,456 crore till the end of February and reportedly repaid ₹16,134 crore in March, which includes settlement of ways and means advances, taking the total borrowings to ₹48,322 crore. What are revenue receipts? It is the amount earned through tax and non-tax sources, grants in aid and borrowings. It is used for expenditure including payment of salaries, pensions, on welfare schemes including on subsidies. 80% of tax revenue projected realised Tax revenues from all sectors, except for sales tax and State's share of union taxes, remained around 80% of the projections in the budget estimates for the year. The State secured ₹19,149 crore through State's share of Union Taxes against ₹18,384 crore projected in the budget estimates. Sales tax collection too was impressive at ₹31,815 crore, 95.12% of the ₹33,449 crore of the budget estimates, according to the preliminary report on the state accounts submitted to the Comptroller and Auditor General of India. Revenue through Goods and Services Tax up to March was ₹50,343 crore, 85.92% of ₹58,594 crore of the budget estimates and that through State Excise duties was ₹18,603 crore (₹25,617 crore budget estimates) while that through other taxes and duties was ₹7,896 crore (₹10,111 crore budget estimates). Non tax revenue too was good at ₹23,607 crore, 67% of the ₹35,208 crore budget estimates but accruals through Grants in Aid and Contributions continued to bely expectations pegged at ₹7,913 crore, just 36.57% of the ₹21,636 crore of budget estimates. Where was money spent in 2024-25? Expenditure on salaries/wages -> ₹42,245.51 crore Expenditure on pension -> ₹16,950 crore Expenditure on interest payment -> ₹26,688crore Expenditure on subsidy -> ₹11,508crore Expenditure On the expenditure front, payment of salaries and wages and pension continued to account for major chunk of spending followed by interest payment. The government incurred expenditure of ₹42,245 crore on payment of salaries/wages against ₹40,041 crore of budget estimates while the outgo on account of payment of pensions was ₹16,950 crore, 145% of the ₹11,641 crore projected in the budget estimates. Interest payment continued to be on the higher side at ₹26,688 crore, 150% of ₹17,729 crore. Revenue deficit The State reported revenue deficit of ₹8,782 crore at the end of March as against ₹297 crore revenue surplus of budget estimates and the fiscal deficit was at ₹48,322 crore against ₹49,255 crore. The primary deficit till March end was ₹21,633 crore significantly lower than ₹31,525 crore of the budget estimates. Sources of tax revenue Goods and Service Tax Stamps and Registration Land Revenue Sales Tax State Excise duties State's share of Union taxes Other taxes and duties Sources of non-tax revenue Land sale, interest on loas given, accruals on inter-State settlements and others What are Grants in aid and Contributions Grants from union government
