Bypolls over, AAP’s next target: getting cash-strapped Punjab back on track

Sources said that the concern section and fiscal experts person suggested that the authorities should look astatine non-tax gross for filling its coffers arsenic the taxation revenues had already deed the limit.

The meetings had deliberated connected expanding energy work connected the concern sector. The manufacture was fixed powerfulness astatine Rs 5 per portion during erstwhile CM Amarinder Singh’s regime. The manufacture was told that determination would beryllium an summation of 3 per cent connected this fixed complaint each year. However, aft coming to powerfulness successful 2022, the AAP authorities has not accrued the rate. “The concern section was told to enactment it up to the Cabinet successful its adjacent gathering aft the byelections. The concern section is preparing and whitethorn bring a related docket successful the adjacent meeting,” said a source.

Also, determination person been deliberations connected expanding the energy duty. “All this could assistance mop up an further gross of Rs 800 crore to Rs 900 crore. However, this volition beryllium a governmental decision. The authorities would person to instrumentality a determination connected either decreasing the powerfulness subsidy that has bled the authorities exchequer adust oregon to enforce immoderate much taxes. The authorities has besides been suggested to place immoderate fees connected municipal services, administrative interest and others. The authorities has already levied greenish taxation connected aged vehicles, accrued VAT and the hiked the autobus fare. This was a determination towards the same,” said an official.

Data obtained from the authoritative website of CAG Punjab shows that the authorities has not received an encouraging effect connected collections nether immoderate heads. While the excise and stamp work had got a bully response, determination are different taxes the authorities has not been capable to cod adjacent 50% of them adjacent aft 7 months of the existent fiscal. The gross receipts, arsenic per the budget estimates for the existent fiscal, were pegged astatine Rs 1,03,936 crore, portion the existent collections up October are Rs 50,884 crore. In 7 months, the authorities has been capable to cod lone 48.96% of the collections. In the corresponding play past year, the authorities had collected 49.77% of it.

In the taxation revenue, the postulation is Rs 42,663 crore against an yearly people of Rs 80,941 crore. This is 52.71%, portion it was 52.58% past year. In the GST, the postulation is Rs 12,850 crore against a people of Rs 25,750 crore.

This is 49.90% of the fund estimates successful 7 months. During the past fiscal, successful the corresponding period, it was 53.84%. The authorities has been capable to gain Rs 3,145 crore from stamps and registration, which is 54.70% of the full yearly estimation of Rs 5,750 crore. During the past fiscal successful the corresponding play the collections were 51.18%.

In the onshore revenue, the authorities has been capable to cod lone 26.07% till October arsenic the postulation was Rs 59.97 crore arsenic against yearly estimation of Rs 230 crore. From income tax, against an estimation of Rs 8,550 crore, the postulation has been Rs 4,039 crore which is 47.24% against 49.53% past year. From excise, against an estimation of Rs 10,350 crore, the postulation has been Rs 5,937 crore which is 57.37% of the full target. It is much than past twelvemonth which was lone 53.17%.

As per state’s records, the authorities has already borrowed Rs 26,222 crore, till October this year, against fund estimates of Rs 30,464 crore for the existent fiscal. This is 86.07% of the full borrowings. Last twelvemonth it was 58.81%.

Sources said that the authorities was successful dire fiscal straits. It is hardly capable to wage salaries. It delayed salaries besides for the period of August this year. An authoritative of the authorities said, “There whitethorn beryllium a currency crunch, but nary bills are pending successful the treasury.” It is learnt that the officials told Kejriwal that escaped powerfulness fixed by this authorities was bleeding the exchequer adust arsenic the powerfulness subsidy measure has already crossed Rs 20,000-crore mark.

During the erstwhile government, it ne'er crossed much than Rs 10,000 crore.

Sources said, “Kejriwal had said that escaped powerfulness was the flagship strategy of the AAP authorities and the authorities would not retreat subsidy. He adjacent told officials that they should marque arrangements for paying Rs 1,000 per period to women.”

A root added that the large farmers with implicit 25 acres were taking distant lion’s stock of powerfulness subsidy. However, the authorities was not prepared to interaction the farmers.  Sources said that the contented of soil mining had besides been discussed — that it was not capable to gain much than Rs 350 crore for the exchequer annually. “Now, the authorities has planned to instrumentality the gross to Rs 1,000 crore from mining alone. The Department of mines and geology is moving connected however this could beryllium done.”

Free question for women has been costing the authorities exchequer Rs 700 crore annually. There person been concerns that adjacent the income taxation payers were availing of the benefit, causing a nonaccomplishment to the authorities exchequer. The authorities had earlier discussed preparing astute cards for non-income taxation payers and widen the payment to them alone, but the authorities has not been capable to instrumentality a telephone connected this.

“The Delhi authorities besides has a flagship strategy of escaped question for women. Any tinkering with the strategy successful Punjab besides seems impossible. But the authorities volition person to instrumentality a call, arsenic it severely needs money,” said an official.