Mancherial: Registration, Commercial tax depts register big growth in revenues
Mancherial: Bringing some relief to the government, four important sources of income such as Stamps and Registrations, Prohibition and Excise, Transport, Mines and Commercial Tax departments of the district saw a considerable rise in revenues in the 2021-22 fiscal when compared to the corresponding year. This positive trend can be attributed to slow down in […]
Mancherial: Bringing some relief to the government, four important sources of income such as Stamps and Registrations, Prohibition and Excise, Transport, Mines and Commercial Tax departments of the district saw a considerable rise in revenues in the 2021-22 fiscal when compared to the corresponding year. This positive trend can be attributed to slow down in cases that helped these departments to improve their income.
According to information provided by officials concerned, the Stamps and Registrations department earned revenue of Rs 49.13 crore in 2021-22 and Rs 25.91 crore in the previous year, indicating a significant rise of 90 per cent. Prohibition and Excise registered sales of liquor worth Rs 629 crore in this financial year as against Rs 599 crore in 2020-21, showing seven per cent of growth.
“The steep decline in positive cases of Covid-19 resulted in the phenomenal growth of the revenues for the Stamps and Registrations department. Customers are now increasingly coming forward to buy assets for the past few months. Realtors are able to develop new ventures even as the government halted registrations of houses sites in unapproved layouts,” Mancherial district Realtors and Builders Association president Vudem Venkataswamy told ‘Telangana Today.’
Meanwhile, the Commercial Tax department recorded an increase of 16 per cent in the value of taxes. It witnessed taxes worth Rs 30.27 crore in the just concluded financial year as against Rs 25.98 crore in the last year. The transport department earned Rs 49 crore by way of fee for registrations, driving licenses and violations of traffic norms in 2021-22 fiscal when compared to Rs 45 crore in 2020-21, reflecting growth of nine per cent.
Commenting on the trend, District Road Transport Officer L Kishtaiah said that people purchased more new vehicles in this financial year than in the past, helping the department see a rise in its income. The lifting of Covid-19 induced lockdown and a drastic decrease in the positive cases apparently inspired many to realise their dreams such as new vehicles and properties, he reasoned. The rise in revenues of these departments, however, brought respite to the State government which struggled to face a severe financial crisis caused by the lockdown for two consecutive financial years i.e., 2019-20 and 2020-21.
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