Kerala's revenue dips by over Rs 10,000 crore during FY 2023-24

A fruit vendor counts a wad of Indian Rupee currency notes for payment at his roadside stall in Mumbai on July 19, 2022. File Photo: INDRANIL MUKHERJEE / AFP

Thiruvananthapuram: The State government's revenue dipped by Rs 10,302 crore during the last fiscal year, according to the Accountant General's statistics.
Though the revenue from GST, sales tax, and the sale of lotteries and liquor increased, the State witnessed a decrease in central grants and stamp duties.
The central grants alone decreased Rs 15,904 crore from the previous financial year.

Revenue from GST collection showed an increase of Rs 2,071 crore. However, only 84 per cent of the targeted collection was achieved. Non-tax revenue from the sale of lotteries and other sources increased by Rs 1,197 crore.
A 20 per cent increase in land's fair price led to a decrease of Rs 522 crore in revenues from stamp duty and registration fees.
Realising that the fair price impeded the annual revenue growth, the government excluded it from the latest Budget.

Even as the State has been crying foul over the Centre lowering the borrowing limit, Kerala availed a loan of Rs 7,389 crore more than it had availed in the previous fiscal.
While the State borrowed Rs 25,587 crore in the 2022-23 financial year, it took a loan of Rs 32,976 crore in the previous year. However, it slashed its expenditure by Rs 3,103 crore, compared to the previous financial year.
The difference between revenue and expenditure stood at Rs 32,976 crore during the reporting financial year.

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