Bihar's revenue collection registers growth in August: Deputy CM Sushil Modi
Bihar Deputy Chief Minister Sushil Kumar Modi has said that the state has registered a growth of 11.70 per cent in revenue collection in August, compared to that in the corresponding month in the previous financial year.
Bihar Deputy Chief Minister Sushil Kumar Modi has said that the state has registered a growth of 11.70 per cent in revenue collection in August, compared to that in the corresponding month in the previous financial year.
Despite the growth, recorded for the first time in 1920-21 financial year, the overall revenue collection from April to August witnessed a decline of 23.69 per cent in comparison to the figure for the same period last fiscal, said Modi who is also the state's finance minister.
Revenue collection was affected because of the halt in economic activities due to COVID-19 pandemic, he said.
Modi also said that while the departments of commercial taxes, registration and transport witnessed decrease in revenue collection, the mines department registered a growth of 77.93 per cent despite adverse conditions.
In April, when lockdown was in force, tax collection saw a fall of 81.61 per cent compared to that in the corresponding month in 2019, he said.
The rate of decline, however, is gradually improving since then and it was 8.34 per cent in July, he said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
10:38 AM IST