Belagavi: Despite being drought-hit, the state finances report has revealed a reasonable achievement during the first six months of 2016-17 in the State’s Own Tax Revenue (SOTR) that include revenue from Commercial Taxes, Excise, Motor Vehicle and Stamps and Registration departments.
The resource mobilization of SOTR stood at Rs 39,762 crore. Commercial tax collections grew by 13.3 per cent, while excise tax grew by 8.2 per cent at Rs 8,063 crore. Collections from Motor Vehicles Taxes and the Stamps and Registration also witnessed a growth with collections of Rs 2,584 crore and Rs 3743 crore respectively. Non-tax revenues stood at Rs 3,182 crore, said the report tabled in the Assembly on Tuesday.
While the Total Outstanding Liabilities is expected to increase from Rs 1,83,320 crore to Rs 2,08,557 crore in 2016-17, the Gross State Domestic Product of the state is projected to increase from Rs 7,35,975 crore to Rs 11,17,334 crore.
