47 p.c. growth in IT revenue

By Our Special Correspondent

BANGALORE, MAY 1. The Karnataka Circle of the Income Tax Department, which includes Goa, has registered an impressive 47 per cent growth in revenue in the last one year which is much higher than the national average.

This was stated today by the Union Minister of State for Finance (Revenue), Mr. V. Dhananjaya Kumar, who held a review meeting of senior officials of the Income Tax and Central Excise and Customs here.

Mr. Dhananjaya Kumar told presspersons that the actual collection of income tax revenue in Karnataka and Goa Circle during 1999- 2000 was Rs. 2,982 crores, which was higher than the budgetary estimate of Rs. 2,870 crores. The collection in the previous year was Rs. 2,046 crores.

In contrast, the increase in income tax, Central Excise and Customs revenue at the all-India level was 17.1 per cent between 1998-99 and 1999-2000. The actual collection of income tax last year was Rs. 57,581 crores as against the estimates of Rs. 57,300 crores. The corresponding figures for Central Excise were Rs. 61,389 crores and Rs. 60,731 crores and for customs duty (import and export duty) Rs. 48,315 crores and Rs. 47,800 crores.

The minister said that there was a significant buoyancy in Central Excise collections in the collectorate which, besides Karnataka, included Kerala. The actual collections were of the order of Rs. 6,250 crores as against Rs. 5,294 crores realised in the previous year.

Send this article to Friends by E-Mail

Section  : Regional
Previous : Crackdown on tank bed encroachers
Next     : PCC(I) finds it tough to tackle issue