Bihar’s Revenue Collection Rises by 8.84%, Nears ₹42,500 Crore Target
Strong GST Growth and Petrol Tax Boost Drive Bihar to Fifth Place in National Tax Collection Growth;
The provisional comparative revenue collection report for the financial year 2024-25 has been released by the Commercial Tax Department of the Government of Bihar. In which a total increase of 8.84 percent has been recorded in the revenue collected. The figures show that the highest increase has been recorded in the revenue collection from petrol. This increase has been made possible by the effective tax policy and economic management of the Government of Bihar.
Total increase of 5.58 percent in GST collection
In the financial year 2024-25, a total revenue of Rs 29,359.76 crore has been received from GST, which is 5.58 percent more than last year. In this, a total of Rs 9,911.68 crore has been received from SGST, a total of Rs 19,370.02 crore from IGST settlement and a total of Rs 55.69 crore from the outstanding collection of subsumed tax. Apart from this, an amount of Rs 22.37 crore has been recovered as compensation.
17.54 percent increase in non-GST collection
In terms of revenue, a significant increase has also been registered in the non-GST category. A total of Rs 12,226.99 crore has been collected under this head. In which Rs 10,516.05 crore has been received from petrol, Rs 1,513.98 crore from excise duty and Rs 195.85 crore from professional tax.
Bihar reaches close to revenue target
The Bihar government had set a target of revenue collection of Rs 42,500 crore for the financial year 2024-25. Against which a total revenue of Rs 41,586.75 crore has been received, which is 97.85 percent of the target set. This performance is said to be the result of strong revenue policies and administrative reforms of the state government.
It is worth noting that GST was implemented across the country on July 1, 2017. At that time, the tax collection of Bihar Commercial Tax Department was only Rs 17,236 crore. Whereas at present this figure has reached Rs 41,586.75 crore. Bihar ranks fifth in the whole country in terms of GST collection growth rate. This continuous growth reflects the effective tax administration system and economic strategy of the Bihar government. Efforts being made by the Bihar government are likely to lead to further revenue growth in the future.