Bhubaneswar, April 16: Beating economic wreck created by the unprecedented pandemic of Covid-19, the revenue generation of Odisha has grown by more than 20% in the financial year (FY) 2020-21 over the last fiscal year of 2019-20. The total revenue generation in 2020-21 has crossed of Rs 56, 363 cr in absolute figures.
This was known from a high level meeting held on digital mode under the Chairmanship of Chief Secretary Suresh Chandra Mahapatra in Lokseba Bhawan today where in Principal Secretary Finance Ashok Kumar Meena placed the revenue performances of different departments for discussion.
While complementing the revenue earning departments for good performance, Chief Secretary Mahapatra fixed the target of Rs.40,000 Cr from own tax revenue for the year 2021-22 which is around 15% more than the revenue generated in the FY 2020-21.
Similarly, Mahapatra set the revenue target of Rs.21, 500 cr from non-tax sources for the year 2021-22. It may be pertinent here to mention that the budget estimate from non-tax and own-tax sources was fixed at Rs.20, 000 cr and Rs. 37,500 cr respectively for the current FY. Mahapatra said, “There is need for more revenue generation to keep up the higher growth trajectories in the areas of social service, capital investment and higher outlay for programme expenditure.
Principal Secretary Meena appraised that following the 5-T principles in financial management, around 95% of the State’s revenue collection has been brought into electronic fold. At present around 95% of the State’s own revenue is being collected electronically.
The Chief Secretary directed to achieve hundred percent electronic receipts of the taxes during the current FY. He said, “Electronic mode of collection will make it easy for tax payers, it will facilitate the process of monitoring and fault detection and will also lessen the burden of paper works.”