Economy

Covid impact visible on U’khand’s economy: Tax collections, industrial output and export suffers | Dehradun News

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Gairsain: The Economic Survey 2020-21 report — tabled by the state government on Thursday — highlighted a slowdown in the state’s economy due to the outbreak of Covid-19
According to the report, a whopping 19% dip was witnessed in tax collection. While the tax collection in 2019 was Rs 9,282 crore, the same was Rs 7,488 crore (till December 31, 2020), reflecting a 19% loss. The non-state GST collection — which was 1,297 crore (till December 31, 2019) — recorded a 6% decline as Rs 1,216 crore were realised in the form of non-state GST (till December 31, 2020).
The revenue generated through petrol and diesel witnessed a decline of 6.65% whereas the liquor sales went up by 3.07%. Apart from the four-month period from April 2020 to July 2020, the excise collection remained positive in the remaining months (from August to December 2020).
Under the head of stamp and registration department, the state secured Rs 710 crore (from April 1, 2020 to December 2020) which is 13.65% less than the amount of Rs 1,071 crore realized in the corresponding period of last financial year 2019-20.
The industrial sector too faced a slowdown during the pandemic. The investment in industries in 2018-19 was Rs 1,536 core and went up to Rs 1,731 in 2019-20. However, till January 2021, a mere Rs 635 crore was invested in the industries. Similarly, employment generation which was 20,894 in 2018-19 and 28,700 in 2019-20, went down to 15,846 in January 2021.
The total export in 2018-19 was worth Rs 16,285 crore and went up to Rs 16,971 crore in 2019-20. However, from April to August 2020, it was reduced to Rs 8,624 crore. According to the report, the annual growth rate of Uttarakhand was 5.77% in 2018-19, whereas on the basis of the present-day performance, it is likely to be 4.30% for 2019-20 .
The state GDP for 2018-19 was Rs 1,91,484 crore but it is estimated to be 1,99,718 crore in 2019-20, indicating a 4.30% rise. Similarly, the per capita income in 2018-19 was Rs 1.91 lakh and is estimated to be Rs 2.02 lakh for 2019-20.
The total revenue receipts estimated for 2020-21 is Rs 42,439 crore, which is 19.53% more than Rs 35,502 crore realized in 2019-20. Through tax, the total revenue realization in 2020-21 (till December 31, 2020) was Rs 7,488 crore which was around 3% more than than Rs 7,210 crore realised till December 2019. Through GST, the government pocketed Rs 6,272 crore till December 2020, which was 6% more than Rs 5,913 crore received till December 2019.

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