State experiences loss of Rs 8308 cr in 3 months' income
Thiruvananthapuram: Though the state government's income improved after the lockdown was relaxed, a loss of Rs 8308.8 crore has been reported in the tax revenue. Kerala is surviving on the GST compensation and the financial assistance provided by the Finance Commission for managing the low income.
The tax revenue of the state during April-June in 2019 was Rs 11,825.96 crore. The state was under lockdown during this quarter in 2020 and the income was Rs 3,517.16 crore. GST and land revenue, land sale, excise, liquor and fuel tax and motor vehicle tax are the major tax revenue sources for the government.
The GST for trade within the state was Rs 187.48 crore in April and it rose to Rs 736.53 crore in June. The reopening of markets and increase in submission of tax return resulted in the improvement in income. However, there was a decline of Rs 3,686.47 crore in these three months even after adding the income from other sources and the Centre's assistance.
This statistics indicate that if the pure income is not improved after the lockdown, the economic condition of the state would not be better. Lottery is considered as non-tax revenue. However, lottery draws were stopped by March end and this affected the income from lottery sale as well. Earlier, the revenue from lottery was Rs 274.66 crore and this dropped to Rs 67.51 crore later.