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| Wrong projection of Rs 3,000 cr found during past 5 yrs | | Incorrect figures put J&K budget's credibility at stake | | Peerzada Ummer
ET Report
SRINAGAR, July 7: The inaccurate estimates by State Government during past five years have resulted in wrong projection of Rs 3005 crore in the budget.
The miscalculations made by the government of the collected tax and non-tax revenue have not only taken toll over the annual budgets but has also made the entire budgetary system of the state chaotic. It is also putting question marks over the accuracy of the budgets that were presented amid much fanfare before the masses.
Official records in possession of Early Times reveal that various state departments and districts didn't submit the accurate figures of tax and non-tax revenue, resulting in the miscalculation and inaccurate figures coming out in the form of the yearly budgets.
For example, during the financial year 2009-10, the tax revenue was projected as Rs 3075 crore while the actual amount collected via tax was Rs 3027 crore, resulting in the difference of Rs 48 crore. Similarly, during the same year, non-tax revenue was estimated at Rs 1294 crore while the actual figure was Rs 955 crore. It resulted in the wrong projection of Rs 339 crore during that year.
The difference of percentage calculated during the financial year 2009-10 was 1.56 for tax revenue and 26.20 for the non-tax revenue of the state.
In 2010-11, the tax revenue of the state was projected as Rs 3643 crore while the actual amount collected was Rs 3483 crore, resulting in the difference of Rs 160 crore. Similarly, during the same year, non-tax revenue was estimated at Rs 1475 crore while the actual figure was Rs 1093 crore. It resulted in the wrong projection of Rs 382 crore during that year. The difference of percentage calculated during the financial year of 2010-11 was 4.39 for tax revenue while it was 25.90 for the non- tax revenue of the state.
During the financial year 2011-12, the tax revenue of the state was projected by the authorities as Rs 4791 crore while the actual amount collected was Rs 4745 crore, causing inaccuracy of Rs 46 crore. Similarly, during the same year, non-tax revenue was estimated at Rs 1851 crore while the actual figure was Rs 2002 crore. It resulted in the wrong projection of less than Rs 151 crore during that year.
In 2012-13, the tax revenue of the state was projected as Rs 5975 crore while the actual amount collected was Rs 5832 crore, resulting in the difference of Rs 143 crore. The non-tax revenue was estimated at Rs 2819 crore while the actual figure was Rs 2160 crore. It resulted in the inaccuracy of Rs 659 crore during that year. The difference of percentage calculated during the financial year of 2012-13 was 8.02 for tax revenue while as it was 23.38 for the non-tax revenue of the state.
It was noticed that the revised estimates for 2013-14 for the non- tax revenue projection was Rs 3400 crore while the actual realisation was mere Rs 2870 crores, corresponding to 16 percent below the original forecast.
Similarly, the tax revenue for 2013-14 was projected at Rs 6820 crore while the actual realisation was Rs 6273 crore, resulting in the downward variation of Rs 574 crore and corresponded to 8 percent below the original projection. |
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