Srinagar, March 19: Despite the lingering pandemic and the deep economic disruption caused in the aftermath of August 5, 2019, in Jammu & Kashmir, the erstwhile state’s own tax and non tax revenues have continued to exhibit a handsome growth.
Significantly, latest official data accessed by Ziraat Times indicates that J&K’s own tax revenue growth between 2008-2009 and 2019-2020 is a staggering 252 percent. The non-tax revenue growth between 2008-2009 and 2019-2020 has been even much bigger – that is 408 percent.
According to latest official data on tax revenues analysed by Ziraat Times, J&K’s non-tax revenue in 2019-20 (Pre-Actuals) has increased to Rs 4260 crore from 2018-19 non-tax revenue, which was Rs 4188 crore.
In terms of non-tax revenue receipt targets, J&K has exceeded the 2019-20 target – the actual revenue generated is Rs 4260 crore against the target of Rs 3432 crore.
In terms of tax revenue, while there has been a slight decline in 2019-20 revenues compared to 2018-19 revenues, the overall quantum is seen as handsome – Rs 9467 crore. J&K’s tax revenue was Rs 9826 crore in 2018-19.
What is remarkable, however, is the decadal tax revenue growth of Jammu & Kashmir. From Rs 2683 crore in 2008-2009, its tax revenue has undergone a 252% growth until 2019-20, to the quantum of Rs 9467 crore.
The below table provides a detailed picture of the of the tax and non-tax revenue growth of J&K between 1988-89 to 2019-20.
|
S. No. |
Source of Revenue |
1988- 89 |
1998-99 (10 year growth) |
2008- 09 (10 year growth) |
2014- 15 (06 year growth) |
2016- 17 |
2017- 18 |
2018- 19 |
2019- 20 |
|
1. |
Tax Revenue |
138 |
437 |
2683 |
6334 |
7819 |
9536 |
9826 |
9467 |
|
2. |
Non Tax Revenue |
100 |
283 |
837 |
1978 |
4072 |
4362 |
4188 |
4260 |
Figures are in (Rs crore)
Information extracted from J&K Budget 2020-21 document suggests that for the first time in 2019-20 J&K has exceeded its own revenue generation target. The below table provides a comparison for tax revenue targets 2008 onwards against the actual achievement.
(Rs in crore)
|
Year |
Target |
Achievement |
|
2008-09 |
1127 |
837 |
|
2009-10 |
1294 |
955 |
|
2010-11 |
1475 |
1093 |
|
2011-12 |
1851 |
2002 |
|
2012-13 |
2765 |
2160 |
|
2013-14 |
3321 |
2870 |
|
2014-15 |
3561 |
1978 |
|
2015-16 |
3455 |
3913 |
|
2016-17 |
4024 |
4072 |
|
2017-18 |
5389 |
4362 |
|
2018-19 |
4188 |
4188 |
|
2019-20 (Pre-Actuals) |
3432 |
4260 |