PANAJI: The halt to mining activities and the economic slowdown in the state have made the country’s treasury lose around Rs 2000 crore annually since the financial year 2012-13. The income-tax department under the Union finance ministry has published a report titled ‘income-tax department time series data financial year 2000-01 to 2014-15’.
The report has said that while in the year 2011-12 the department had earned revenue of Rs 4583.90 crore from Goa, but in the following financial year the revenue dropped to Rs 2600.40 crore, a loss of Rs 1983.50 crore.
During the successive year 2013-14, the income-tax collection dropped further to Rs 2100.30 crore, a drop by Rs 2483.60 crore. However, the financial year 2014-15 showed a slight improvement as the revenue collection by income-tax department increased to Rs 2820.02 crore.
The drop in collection of revenue by the income-tax department has been attributed to the halt to mining activities. While tax collections grew sharply after 2008 when the mining industry was at its peak, but the downfall began in 2011 when the sector faced allegation of illegalities, and subsequently the government banned all mining activities in the state in 2012.
Statistics released by the income-tax department have said that for the year 2008-09 Goa contributed Rs 3029.80 crore and the revenue increased to Rs 3624.10 crore in 2009-10 and Rs 4886.30 crore in 2010-11.
However, thereafter in 2011-12 the revenue collections began to show a slowdown with the collections for the financial year dropping to Rs 4583.90 crore, a drop of more than Rs 300 crore.
Statistics show that the tax collection by the finance ministry has been steadily increasing from Rs 68,305 crore in 2000-01 to Rs 7,42,295 crore in 2015-16.