Chandigarh contributes 4630 million towards national exchequer

The budgetary performance for the year 2006-07 has recently been reviewed. The Spokes Person of the Chandigarh Administration apprised that the Chandigarh Administration has achieved a very positive resource position.
With the fiscal discipline the Administration has achieved Rs. 463.26 as Non-Plan surplus (i.e. excess of Income over Expenditure) during the year 2006-07. It means the Chandigarh Administration has contributed Rs. 463.26 crore to the Consolidated Fund of India.
The utilization of Plan allocation of Rs. 249.23 crore was almost to the extent of 100% (99.96%). Similarly, the utilization of Non-Plan allocation of Rs. 1153.89 crore was 99.96%. The realization of Recoveries during the year was 103%. The Estate Officer realized Rs. 264.88 crore from the sale of plots/land against the target of Rs. 256.08 crore which comes to 103.44%.
It was also disclosed that the realization of Revenue during the year was Rs. 1292.73 Cr. against the target of Rs. 1231.99 Cr. Out of this, Tax Revenue realized was Rs. 830.43 Cr. which is 107% of the target fixed at Rs. 776.50 crore. The Excise & Taxation Department has collected Rs. 585.65 Cr. against the target of Rs. 540.00 Cr. fixed under ‘Sales Tax’ and it was more than the previous year 2005-06 by Rs. 71.37 Cr.
This increase is attributed to better monitoring and supervision by the Sales Tax Department and increased tax compliance by the tax payers. Rs. 86.75 Crore have been realized towards Stamps & Registration fee against the target of Rs. 65.00 Cr. A whopping increase of Rs. 21.75 Cr. i.e. 133 % is due to the enhancement of Collector’s rates besides vigilant monitoring by the Estate Officer and steep hike in the prices of real estate. In nutshell, Tax Revenue realized is an outstanding performance as compared to 2005-06.
Similarly, the Non-Tax Revenue realization was Rs. 462.30 Cr. against the target of Rs. 454.89 Cr. Tax and Non Tax Revenue for the last 3 years are as under:- (Rs. In Crores) Area 2004-05 2005-06 2006-07 ‘Sales Tax’ and ‘State Excise’ 482.85 640.53 702.53 Stamps and Registration 36.88 63.29 86.75 Others 34.31 39.41 41.15 Total Tax Revenue 554.04 743.23 830.43 Total Non-Tax Revenue 414.38 452.98 462.30 Total Revenue 968.42 1196.21 1292.73