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Meghalaya registers 6.83% increase in tax collections in 2020-21 fiscal

SHILLONG: Meghalaya chief minister Conrad K Sangma has said compared to 2019-20, Meghalaya registered 6.83 per cent (provisional) increase in tax collections in 2020-21 fiscal.

Despite COVID-19, there was a 73.78 per cent increase in GST collections and an 81 per cent (provisional) increase in revenue collections in March 2021 compared to March 2020.

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“Meghalaya has registered 6.83% (provisional) growth in tax collections in FY 2020-21 as compared to 2019-20. There was also a 73.78% jump in GST collections & 81%(provisional) jump in revenue collections for March 2021 as compared to March 2020, despite #COVID19”, Sagma tweeted.

Sangma also introduced a deficit budget for the fiscal year 2021-22, without proposing any new taxes.

Total receipts are expected to be Rs 17,509 crore, with borrowings of Rs 2,247 crore, according to Sangma, who also holds the finance portfolio.

The overall expenditure is estimated to be Rs 17,603 crore, which includes Rs 771 crore in loan repayments, Rs 1,047 crore in interest payments, and Rs 1,303 crore in pension payments.

The chief minister declared 2021-22 as the Year of the Youth and set aside Rs 10 crore for skill development among the state’s youth.

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