Ahmedabad, 8 May 2020
The lockdown will hit the Gujarat government’s revenue by Rs 20,000 crore in two months. There will also be a big reduction in the share from the center. Rupani is preparing for the situation where people oriented schemes have to be stopped.
The Rupani government no longer has the money. So the Mineral Aid Fund has started to be used. However, it has ruled out cutting the salaries of its employees or officers. The proposal to take loans to pay the employees has been started. 4 to 5 thousand crore salaries are paid every month. An official in the finance department has projected a 25 per cent drop in revenue to Rs 1.50 lakh crore a year. If the recession lasts for a long time, it could lead to a huge gap of Rs 50,000 crore.
The tax burden may fall on the people.
In the financial year 2019-20, Prime Minister Narendra Modi has not yet paid Rs 5815 crore in taxes, causing huge losses to Gujarat. State taxes have been reduced by Rs 1,792 crore.
The outstanding tax amount has increased by Rs 12,708 crore. Which industries have not given to the government. Outstanding tax of Rs 45,000 crore was due which did not come.
The biggest loss to the Gujarat government is in GST and value added tax. In addition there is stamp duty as well as land revenue income. The biggest hit in electricity taxes has been due to the closure of industrial groups. New vehicles are not registered in the state. Real estate is a complete lockdown so stamp duty and registration revenue is off. Both of these segments are down 90 percent.