Latest news with #StateExciseDuties
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
18-05-2025
- Business
- The Hindu
State's overall revenue receipts remain below expectations yet again
The revenue receipts of the State for 2024-25 remained far below the numbers projected in the budget estimates going by the actual receipts. The government in the budget 2024-25 projected total receipts, revenue receipts and capital receipts, which include borrowings and other liabilities, at ₹2.74 lakh crore. The achievement, however, has been just ₹2.17 lakh crore, over ₹55,000 crore less than the budget estimates, according to the provisional estimates released by the Comptroller and Auditor General of India. Among the major contributors to the deficit are Grants-in-Aid and Contributions and State Excise Duties. While the government estimated revenue of ₹25,617 crore through State Excise duties, the actuals at the end of the fiscal were ₹18,605 crore, marking a deficit of ₹7,000 crore. Grants-in-Aid and Contributions received from the Central government were projected at ₹21,636 crore, but the actuals during the fiscal were at ₹7,913 crore. The case was no different in the years 2023-2024 when receipts under the head were ₹9,729 crore against ₹41,259 crore of budget estimates and in 2022-23 when the receipts were ₹13,179 crore against the estimated ₹41,001 crore. Shortfall in the revenue receipts as compared with the budget estimates is not new and has been a recurring feature since the past few years. Total receipts during 2023-24 were pegged at ₹2.59 lakh crore and the actuals were at ₹2.18 lakh crore. The same was the case with the fiscal year 2022-23 when the budget estimates placed the receipts at ₹2.45 lakh crore and the actuals at the end of the year were ₹1.92 lakh crore. Receipts under the head Non Tax Revenue belied expectations over past few years except for 2023-24 when the State registered revenue of ₹23,819 crore under the head against the budget estimates of ₹22,808 crore. The sudden spike in the revenue during that particular fiscal was attributed sale of lands in prime locations and advancing the auctioning of liquor outlets which fetched substantial income ahead of the elections in December 2023.
