Karnataka posted strong economic growth, superior revenue performance: CMO

PTI, Dec 4, 2024, 8:23 AM IST

Karnataka CM Siddaramaiah (PTI / File)

Bengaluru: Karnataka has posted a strong economic growth and superior revenue performance, particularly in GST collections, which has surpassed national averages, the Chief Minister’s office said on Tuesday.

Chief Minister Siddaramaiah reviewed the performance of key departments, including Commercial Taxes, Excise, Stamps and Registration, and Mines and Geology, at a high-level meeting, during which he emphasised the need for intensified efforts to meet annual targets, it said.

He directed officials to strengthen vigilance to curb tax evasion, launch special drives in the Commercial Tax and Excise Departments, resolve pending GST applications to accelerate revenue realization, and streamline e-Khata processes in the Stamps and Registration Department, the CMO said in a statement.

Officials were instructed to implement these measures promptly to sustain Karnataka’s revenue growth trajectory, it said.

According to the CMO, the review underscored Karnataka’s strong economic growth and superior revenue performance, particularly in GST collections, which surpassed national averages. The Commercial Taxes Department reported revenue collection of Rs 53,103 crore till November 2024, achieving 94 per cent of the target of Rs. 56,317 crore.

With an annual target of Rs 84,475 crore for 2024-25, the chief minister urged officials to focus on underperforming regions such as Malenadu and Mysuru to meet targets. “GST collections grew by 15 per cent, with Karnataka contributing Rs. 13,722 crore, placing the state nationally second in GST collections.”

The Excise Department collected Rs 23,600 crore, amounting to 61.26 per cent of its annual target of Rs. 38,525 crore for 2024-25, it said, revenue increased by Rs 1,432 crore, reflecting a 6.46 per cent growth compared to the previous year. Measures to streamline operations and fill vacant Group C posts are being implemented to enhance performance, the release added.

The Stamps and Registration Department recorded revenues of Rs 15,161 crore, so far, achieving 58 per cent of its annual target of Rs 26,000 crore. Compared to the previous year, revenue grew by 21 per cent, driven by measures to curb illegal registrations and include unassessed properties in the tax net.

The Mines and Geology Department reported revenue collections of Rs 4,862 crore by November, against an annual target of Rs. 9,000 crore, reflecting a 10 per cent year-on-year growth, the CMO said, discussions focused on streamlining mineral tax policies and optimising revenues from minor minerals.