2011-12: The Revised Estimates


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Tax receipts: The State’s own tax receipts were reflected in the Budget Estimates at Rs 4,183 crore. I am happy to report that the same are now expected to touch Rs 4,800 crore. In comparison to the last year’s achievement of Rs 3,483 crore, this figure indicates an improvement of Rs 1,317 crore. The growth rate over the last year’s realizations works out to around 38%. Out of the total tax receipts, the receipts of the Commercial Taxes Department alone amount to Rs 3,561 crore in comparison to the collection of Rs 2,504 crore made during the last financial year.

Thus, out of a total increase of Rs 1,317 crore in the tax revenue, the receipts of the Commercial Taxes Department alone exceed the last year’s collection by Rs 1,057 crore, indicating an improvement of 42%, which is a record.During my last budget speech, I had indicated the need of taking new initiatives by the government for improving the administration of the Stamp Act and the registration of instruments of exchange. This August House approved wide ranging amendments in the relevant laws. These government initiatives have resulted into a phenomenal growth in the collection of Registration Fee and Stamp Duties. In comparison to the last year’s collection of Rs 79 crore, we are hoping to reach the level of Rs 133 crore in the current financial year. These figures indicate an increase of about Rs 54 crore or 68% improvement over the last year’s collections.
Other tax receipts

Taxes on Goods and Passengers:  Rs 439 crore in Revised Estimates in comparison to Rs 337 crore realized last year showing an increase of Rs 102 crore or over 30% improvement; State Excise Duties: Rs 383 crore in comparison to Rs 337 crore realized last year, indicating an increase of Rs 46 crore or 14% improvement over the last year’s achievement.

Non-tax receipts: The total non-tax receipts were estimated earlier at Rs 1,620 crore in BE. This figure has been re-worked in the Revised Estimates at Rs 1,851 crore, mainly due to a higher revenue collection target given to the Power Development Department.

Besides, receipts mainly on account of dividend from the J&K Bank have risen to Rs 67 crore in comparison to the BE of Rs 30 crore. Other major contributors to the non-tax receipts, as reflected in the Revised Estimates are:

Forestry and Wildlife receipts        :     Rs 56 crore.
Mines & Minerals receipts        :     Rs 43 crore.
Water Supply & Sanitation receipts    :     Rs 35 crore.

Main items of expenditure
Out of the total expenditure reflected in the Revised Estimates, a sum of Rs 22,854 crore is now classified as revenue expenditure in comparison to the Budget Estimates of Rs 22,752 crore. Out of the total revenue expenditure, the plan revenue expenditure is estimated at Rs 1,108 crore in comparison to the Budget Estimates of Rs 1,205 crore. The non-plan revenue expenditure is now estimated at Rs 21,746 crore in comparison to the Budget Estimates of Rs 21,547 crore.

The total capital expenditure in the current year is now estimated at Rs 8,168 crore. Out of the total capital expenditure, the Revised Estimates for capital expenditure on plan account are placed at Rs 6,617 crore as compared to the Budget Estimates of Rs 7,020 crore. The non-plan capital expenditure is estimated to increase to Rs 1,551 crore in comparison to the Budget Estimates of Rs 1,440 crore.

Energy Purchase
The expenditure on account of the purchase of electrical energy from the Central Public Sector Undertakings and J&K SPDC was originally estimated at R 2,400 crore. In the Revised Estimates, the figure has been proposed at Rs 3,000 crore to take care of the increase in the purchase price of energy, purchase of additional energy and the cost of running the gas turbines.

Salary Expenditure

During the course of the current financial year, three DA installments have been released in favour of the government employees and pensioners, including one installment which had become payable last year. The government has also decided to pay 100% of the arrears of pay and pension revision following the adoption of the Sixth Central Pay Commission Award. These arrears shall be paid in five equal annual installments.

After taking these factors into account, the total salary bill is expected to rise to Rs 11,654 crore, inclusive of the plan component of Rs 327 crore and grants-in-aid amount of Rs 644 crore which is mainly utilized by the autonomous organizations for the payment of salary to their employees.
The expenditure on pension and other retirement benefits was earlier estimated at Rs 2,651 crore for the current fiscal. The same is now estimated to reach Rs 2,780 crore, as per the Revised Estimates.


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