The economic survey shows dip in tax collection, export in year 2021-22
The negative effect of the pandemic of Covid-19 on the economic health of Uttarakhand is visible in the economic survey 2020-21 tabled in Uttarakhand Vidhan Sabha on Thursday. The state is expected to witness a decline in total tax collection as the survey points out a 19 per cent decrease in tax collection in the year 2020-21 ( April to December 20) as compared to the year 2019-20. The industrial output, investment, industrial employment and export have suffered a decline. The report indicates that tax collection in the year 2018-19 was Rs 9,282 crore and it dipped to Rs 7,488 crore (till December 31, 2020 ). The non GST collection which was 1,297.47 crore (till December 31, 2019) saw a six per cent decline as Rs 1,216.13 crore were received in form of non GST (till December 31, 2020).
The revenue generated through petrol and diesel also saw a decline of 6.65 per cent in this year as its consumption decreased by 42 per cent.
The industrial sector also suffered a setback during the pandemic. The survey pointed out that the investment in industry in the 2018-19 which was Rs 1,536 core increased to Rs 1,731 crore in the 2019-20. However only Rs 635 crore were invested in the industrial sector in the financial year 2020-21 till January this year in the state. The industrial employment generation which was 20,894 in 2018-19 and 28,700 in 2019-20, decreased to 15,846 this year.
The total export which was Rs 16,971 crore in 2019-20 in the state reduced to Rs 8,624 crore in this year.
On the other hand, the sale of liquor witnessed an increase of 3.07 per cent during the pandemic.
Under the head of stamp and registration the state got Rs 710 crore (from April 1, 2020 till December 2020) which saw a decrease 13.65 per cent as compared to the amount of Rs 1071 crore realized in the corresponding period of last financial year.
The survey clearly shows that the economic growth rate of the state has declined from 5.77 per cent in the year 2018-19 to 4.30 per cent in the year 2019-20.
On a positive side the Gross Domestic Product (GDP) of the state witnessed an increase of 4.30 per cent in the year 2019-20 as compared to the previous year. For the year 2019-20, the GDP of the state is pegged at Rs 199718 crore.
Similarly, the per capita income in 2018-19 was Rs 1.91 lakh and is estimated to be Rs 2.02 lakh for the year 2019-20.
The total revenue receipts estimated for 2020-21 are Rs 42,439 crore, which is 19.53 per cent more than Rs 35,502 crore realized in the year 2019-20.
The state has a fiscal deficit of 2.63 per cent of GDP in the year 2019-20 while it was 3.09 per cent of GDP in the year 2018-19.
Friday, 05 March 2021 | PNS | Bharadisain
