UP Witnesses Surge in Revenue Collections, Exceeds November Targets
The Uttar Pradesh government has claimed a noteworthy surge in its revenue receipts for the month of November, surpassing the figures from the corresponding period last year. According to official data released on Tuesday, the state collected Rs 16,610.53 crore during November 2023, reflecting a significant increase of Rs 2,580.78 crore compared to the receipts of Rs 14,029.75 crore in November 2022.
Suresh Khanna, the Minister for Revenue, highlighted the consistent growth in revenue and emphasised the government's commitment to transparency in reporting both tax and non-tax collections. The total collections for November reached 76.6 per cent of the targeted Rs 21,676.03 crore for the fiscal year 2023-2024.
Breaking down the revenue receipts, Khanna provided insights into various heads. The state government garnered Rs 9,389.33 crore from GST/VAT, constituting 76.7 per cent of the targeted Rs 12,249.64 crore. Excise contributed Rs 3,788.55 crore, achieving 78.9 per cent of the target of Rs 390.77 crore. However, receipts from stamps and registration decreased to Rs 1,961.94 crore from Rs 2,051.68 crore in November 2022.
Despite the decline in stamps and registration revenue, Khanna noted that the collections for this category in 2023 were 91.7 per cent of the target, set at Rs 2,965.20 crore. The state's non-tax revenue collections for November amounted to Rs 405.63 crore, a notable increase from Rs 312.28 crore in the same month last year.
Looking at the cumulative tax collections from 1 April 1 to 30 November 2023, Khanna reported a robust tax revenue of Rs 1.20 lakh crore, surpassing the figures from the same period in 2022-2023, which stood at Rs 1.11 lakh crore. These collections represented 72.2 per cent of the targeted Rs 1.67 lakh crore for the same period.
However, the minister highlighted that these tax collections constituted 45.9 per cent of the state government's annual target of Rs 2.62 lakh crore, emphasising the need for sustained efforts to meet the ambitious fiscal goals. The state government's non-tax revenue collection up to 30 November was Rs 6,280.86 crore, amounting to 41.2 per cent of the targeted amount for the given period.
The surge in revenue collections signals positive economic momentum for Uttar Pradesh and underscores the effectiveness of fiscal strategies in meeting financial targets.
