JAMMU: Minister for Finance Abdul Rahim Rather today said the Jammu and Kashmir has been tagged as best tax collection state in the Country.
Maintaining that Jammu and Kashmir is moving forward in right direction to minimize the fiscal deficit as per the guidelines and principles laid down in the J&K Fiscal Responsibility and Budget Management (FRBM) Act, Mr Rather said the Comptroller and Auditor General (CAG) too has appreciated the state’s financial achievements especially in the field of internal resources mobilization.
“The tax revenue has touched an all-time high figure of Rs 5900 crore. The growth rate works out to about 26 per cent over the last year’s collection of Rs 4745 crore,” Mr Rather said in his reply to the debate on the budget 2013-14, in the Jammu and Kashmir Legislative Council here.
The Minister said the economic growth is also showing an upward trend satisfactorily within 13th Finance Commission targets.
“The state has also been applauded by the Empowered Committee of State Finance Ministers and the Finance Commission (FC), the highest monitoring foras of the country, for effective implementation of VAT regime and has been tagged as one of the best tax collection States of the country,” Mr Rather added.
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