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Revenue generation goes up

CHANDIGARH: Haryana has seen an appreciable increase in revenue generation under various heads during the last about three years along with rapid economic development, an official spokesman said here on Sunday.

He said that maximum collections under Value Added Tax (VAT) and flow of investment to the State thanks to the congenial and industry- friendly approach of the Bhupinder Singh Hooda regime had also contributed significantly to the revenue increase.

The overall revenue generation went up to Rs.19,186 crore during 2007-08 as against Rs. 17,952 crore in 2006-07 and Rs. 9,843 crore in 2003-04.

The spokesman further disclosed that Haryana collected Rs. 6,708 crore VAT in 2007-08 as against Rs. 5,312 crore in 2006-07. And revenue generation from Excise Duty collection went up from Rs. 923 crore in 2003-04 to Rs. 1,350 crore in 2007-08. Similarly, in Stamp Duty collection, the revenue went up from Rs. 696 crore in 2003-04 to Rs. 2,000 crore in 2007-08 while non-tax revenue witnessed a surge from Rs. 144 crore in 2003-04 to Rs. 1,900 crore in 2007-08.

Haryana was targeting 12 per cent growth in the Gross State Domestic Product (GSDP) in 2007-08 which would be above the National Growth rate pegged at about 9 per cent. According to advance estimates, the GSDP of Haryana at constant (1999-2000) prices for the year 2007-08 has been estimated at Rs.1,01,319.42 crore out of which the contribution of primary, secondary and tertiary sectors is Rs. 21,265.92 crore, Rs. 30,919.95 crore and Rs.49,133.55 crore respectively.

The GSDP is expected to increase during 2009-10, he added.

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