Tamil Nadu has projected a growth of 32% in its non-tax revenue for 2023-24, the highest in four years. The State’s revenue receipts consists of tax revenue (personal tax revenue plus the share in Union Taxes/Duties); non-tax revenue; and grants from the Government of India, in keeping with a current report of the Comptroller and Auditor-General of India (CAG). Non-tax revenue consists of curiosity receipts; dividend and earnings; mining and different departmental receipts, it stated.
The State’s personal non-tax revenue has been estimated at ₹20,223.51 crore in the funds estimates for 2023-24. This is a rise of 32.10% from the revised estimates for 2022-23, Finance Minister Palanivel Thiaga Rajan stated in his 2023-24 funds speech.
The estimate of non-tax revenue has been revised to ₹15,309 crore in 2022-23, from the preliminary estimate of ₹15,537 crore.
In 2022-23, primarily based on the revised estimate, the State will see a rise of 26.3% in its non-tax revenue from ₹12,117 crore in 2021-22. In 2021-22, the growth in non-tax revenue was 16.26% from ₹10,422 crore in 2020-21. As a proportion of the State’s personal sources, the non-tax revenue, which stood at 8.94% in 2020-21, marginally elevated to eight.98% in 2021-22, the CAG stated.
Earlier, the State had seen over 30% growth in its non-tax revenue in 2018-19.
In 2018-19, the non-tax revenue elevated to ₹14,200 crore from ₹10,764 crore in 2017-18, in keeping with the information shared in the CAG’s State Finances Audit Report for the 12 months ending March 2022.
In 2020-21 and 2019-20, the non-tax revenue confirmed a unfavourable growth, in contrast with the earlier 12 months. It declined to ₹10,422 crore in 2020-21 from ₹12,888 crore in 2019-20.
In a report, India Ratings and Research stated the budgeted growth in Tamil Nadu’s non-tax revenue is on the upper aspect and will come in decrease at round 11%. India Ratings has assumed a nominal Gross State Domestic Product growth charge of 11% for 2023-24, as towards the funds projection of 14%.
According to the information in the CAG report, the State had posted a decrease non-tax revenue than the funds estimates in 2017-18, 2019-20, 2020-21 and 2021-22.
