Thursday, February 13, 2025

No additional taxes: CMAsks officials to devise novel plans for revenue generation

Must read

Chief Minister N. Chandrababu Naidu on Tuesday emphasised that revenue-generating departments in the state government must achieve the best results to revive the State’s economy, which was left in a dire state during the previous YSRCP regime.
Chairing a review meeting at the State Secretariat on revenue growth and resource mobilisation, the Chief Minister urged officials to implement innovative strategies to boost revenue and take effective measures to pull the State out of its current financial crisis. He stressed that routine methods would not yield the desired results and called for a more dynamic approach. By leveraging technology, revenue leakages can be curbed, and officials must work towards enhancing government income, he said.
Addressing concerns raised by officials from the Commercial Tax Department regarding tax evasion, the Chief Minister instructed them to ensure strict compliance, leaving no scope for evasion. At the same time, he cautioned against any harassment of businesspersons in the name of tax collection.
Recognising that revenue-generating resources are crucial for implementing welfare schemes and development programmes, the Chief Minister urged officials to focus on achieving consistent progress in income generation. Despite the drastic decline in living standards due to the policies of the previous government, he directed officials not to impose any additional taxes on the common man. Instead, he stressed the need to improve revenue collection through better management and efficiency.
Chandrababu Naidu also stated that regular discussions are being held with the Centre to secure financial assistance. He mentioned that he had a detailed discussion with the Chairman of the 16th Finance Commission, Arvind Panagariya, for one hour and 45 minutes, explaining the State’s precarious financial condition.
Officials presented a detailed report on the State’s revenue receipts to the Chief Minister. They noted that total revenue from commercial taxes in 2023-24 stood at Rs 41,420 crore, while the revenue collected so far this year is Rs 41,382 crore. The department expects an increase in revenue during February and March. The Excise Department is also projected to generate higher revenue this year due to new government policies. However, officials informed the Chief Minister that revenue from the Mining Department has not met expectations.
Chandrababu Naidu reiterated that he would conduct regular reviews of income generation, and officials must deliver tangible results by strengthening their respective departments. Finance Minister Payyavula Kesav and officials from various departments attended the meeting.

- Advertisement -spot_img

More articles

- Advertisement -spot_img

Latest article