• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Thiruvananthapuram, Feb. 27 With the growth in revenue receipts more than offsetting the growth in expenditure, Kerala’s revenue deficit recorded a decline in 2006-07 as compared to the previous year.

As per the report of the Comptroller and Auditor General of India (CAG) for the year, which was tabled in the State Assembly, the revenue receipts grew by 18.9 per cent (Rs 2,892 crore), while the expenditure increased by 13 per cent (Rs 2,401 crore). This resulted in a decline of Rs 491 crore in revenue deficit over the previous year.

The increase in revenue receipts was mainly contributed by tax revenue (Rs 2,163 crore) and the State’s share of Union taxes and duties (Rs 694 crore). The tax revenue rose by 22 per cent to Rs 11,942 crore from Rs 9,779 crore in the previous year. Taxes on sales, trade and others were the major source of the State’s own tax revenue (72 per cent), followed by stamps and registration fees (13 per cent), State excise (eight per cent) and tax on vehicles (six per cent).

On the non-tax revenue side, receipts from forest and wildlife (19 per cent), State lotteries (25 per cent), education, sports, arts and culture (11 per cent) and interest receipts, dividends and profits (eight per cent) were the main contributing factors.

The Central tax transfers increased by Rs 694 crore over the previous year and constituted 17.7 per cent of revenue receipts. The increase was mainly under corporation tax (Rs 307.20 crore), taxes on income other than the corporation tax (Rs 118.65 crore), customs duties (Rs 135.56 crore) and service tax (Rs 122.46 crore).

The total expenditure during the year increased to Rs 22,077 crore from Rs 19,528 crore in the previous year. Apart from the revenue expenditure of Rs 2,401 crore, the increase in total expenditure was mainly due to rise in capital expenditure (Rs 86 crore) and repayment of loans and advances (Rs 62 crore).

Public debt receipts came down by Rs 488 crore over the previous year due to decrease in borrowings from the Union Government. The repayments of public debt also fell by Rs 740 crore over the previous year.

More Stories on : Economy | Kerala

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Federal Bank’s money transfer facility for NRIs in US

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line