Financial management is improving rapidly in Hemant government

Ranchi: After the formation of the Hemant government in the state, financial revenue management is improving rapidly. Considerable improvement is being seen in revenue collection.

While the revenue collection from various heads was Rs 38,658 crore in the financial year 2018-19, it has increased to Rs 56,522 crore in the financial year 2022-23. An increase of about 15 percent has been recorded.

The AG has confirmed this in his accounting audit. The state’s own tax collection to gross revenue ratio has increased by about 6 percent in the financial year 2022-23, compared to the year 2018-19. At the same time, the state government, which always accuses the Center of step-motherly behaviour, is also proving to be right to some extent.

After the financial year 2021-22, the amount received under the Central Grant-in-aid item has decreased. After the formation of the Hemant government in the state, there was a continuous decline in the central grant-in-aid. That is, the accusation of step-motherly treatment on the Central Government seemed to be proved true to some extent.

If we talk about the grants-in-aid received by the Central Government, compared to the grants-in-aid received in the financial year 2017-18, there was an increase of 8 percent in 2019-20, while in 2020-21, there was an increase of 5 percent, but in 2021-22.

A decrease of 7 percent was recorded and a decrease of 5 percent was recorded in the financial year 2022-23. Only Rs 10,894 crore was received against the budget estimate of Rs 17,406 crore for grants-in-aid.

The Hemant government of the state moved towards standing on its own feet. While the internal loan taken in 2018-19 was Rs 7,530 crore, it came down to Rs 5,515 crore in the financial year 2022-23. State Finance Minister Dr. Rameshwar Oraon himself has admitted in the House that the government’s focus is on taking minimum loans and earning from our own resources.

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