Stamp duty collections,Maharashtra falls short of target


By Accommodation Times Bureau

Perhaps, the impact of demonetization showing its effects in Maharashtra, as the collection of stamp duty and registration fees for 2016-17 fell short by Rs 2,536 crore. While the budget estimates and land revenue collections fell short by Rs 1,401 crore. Indicating that Revenue generation from state excise duties also fell short by Rs 3,056 crore as of March 31, compared to budget estimates set at the beginning of the financial year, the figures show. The latest figures on the state’s accounts with the Comptroller and Auditor General of India showing the same.

Data shows actual collections from stamp duty and registration fees were Rs 21,011 crore compared to the budget estimate of Rs 23,547 crore. The construction sector has viewed an apparent slow-down after demonetization.

The data is revealing the state has earned 89% of the target for 2016-17. However, last year it achieved 103% of the target.

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