6.3 per cent decline in revenue collections
Tuesday, 29/01/2013
http://epaper.dailypostindia.com/Details.aspx?id=61086&boxid=58473&uid=&dat=2013-01-29
Chandigarh : In what appears to be a matter of concern for the cash-strapped state, its revenue collections have gone down during the first three quarters of the current fiscal 2012-13.
Registering a decrease of Rs 148.78 crore, which accounted for 6.32 per cent less than corresponding period in 2011, the state collected Rs 2,205.63 crore revenue from stamp and registration of properties from April 1, 2012, to December 31, 2012. Comparatively, Rs 2,354.41 crore revenue collections were made from April to December, 2011.
When compared to the targets, Punjab lagged behind miserably by remaining far away from the targeted income. While the state collected Rs 286 crore against target of Rs 940 crore during third quarter (October to December 2012), the revenue collections of Rs 659.67 crore during second quarter (July to September 2012) and Rs 800.23 crore during first quarter (April to June) were much below targets of Rs 825 crore for second quarter and Rs 1,000 crore for first quarter.
The downfall in the revenue collections has once again made evident that the real estate market in the border state remains stagnant and has failed to pick up even nine months after the return of the SAD-BJP regime.
Official figures revealed that the state earned Rs 286 crore revenue from 22 districts during the month of December 2012 as compared to Rs 340.02 crore collections made during December 2011. From April to November, 2012, Punjab had collected Rs 1,919.63 crore revenue, which was also less than Rs 2,014.39 crore revenue generated during the corresponding period in 2011.
Most surprisingly, Mohali, which was projected as the most favoured investment destination in the state, recorded highest fall in the revenue collections during 2012. As compared to Rs 380.63 crore revenue generated during the first three quarters of 2011 Mohali collected Rs 278.37 crore during the corresponding period in 2012, leaving a shortfall of Rs 102.26 crore.
However, Jalandhar, Amritsar, Gurdaspur, Pathankot, Fazilka, Hoshiarpur, Kapurthala, Tarn Taran and Nawanshahr districts recorded more revenue collections in 2012 as compared to 2011.
While Jalandhar topped with Rs 74.53 crore more revenue collections, Amritsar collected Rs 36.83 crore, Gurdaspur Rs 31.04 crore, Pathankot Rs 20.97 crore, Fazilka Rs 14.84 crore, Hoshiarpur Rs 4.44 crore, Kapurthala Rs 4.34 crore, Taran Taran Rs 1.39 crore and Nawanshahr made Rs 23 lakh more revenue collections.
Among the other less revenue collecting districts is Ludhiana, the bursting-at-the-seams industrial hub of the state, which registered Rs 51.81 crore less collections by generating Rs 389.14 crore in 2012 against Rs 440.95 crore it had collected in 2011.
Also, Patiala recorded decrease of Rs 46.46 crore, Ferozepur Rs 40.82 crore, Moga Rs 20.61 crore, Sangrur Rs 19.93 crore, Mansa Rs 16.99 crore, Fatehgarh Sahib Rs 15.8 crore, Faridkot Rs 7.67 crore, Muktsar Rs 7.44 crore, Bathinda Rs 3.32 crore, Barnala Rs 3.24 crore and Ropar got Rs 1.04 crore less revenue.
Taking cognisance of the deficit, Revenue Minister Bikram Singh Majithia had recently asked all Deputy Commissioners to play a proactive role to check corrupt practices and facilitate people by ensuring hassle-free services in registration of properties in the state.
“We are in the process of tightening the loose ends and take corrective steps to mop up the revenue collections,” a top official told Daily Post, while hoping for positive signs in the on-going last quarter of the current fiscal.
