Chief ministerPramod Sawanttold the assembly that the state has already receivedGSTcompensation of Rs 1,291 crore for 2021 from the Centre. As per the first quarter data, revenue collection for the year was ahead of the budgeted targets.
With the Growth in taxes coupled with intelligent monitoring through systemic interventions and measures being taken for expenditure management and revenue augmentation by the state, there is no question of any fear and anxiety.
The five-year period quoted in the report, Sawant said, included two years of the pandemic, which was an abnormal period in itself and should not be counted.
The compensation was based on an assumed annual growth of 14% of revenue on a year to year basis. However, the actual growth of taxes was around 7.5%-8% in the post-GST regime due to the new system and Covid years.