Kerala Government today said it was expecting an additional revenue of at least Rs 3,000 crore per annum post GST implementation. “Our revenue will increase considerably… (the increase) is expected to touch Rs 3,000 crore (per annum) once the Goods and Services Tax is implemented,” Finance Minister Thomas Isaac told the state assembly during Question Hour. He also said that in 2016-17 fiscal, the state was able to register a growth of 8.98 per cent compared to previous year.
However, demonetisation and the resulting economic slowdown had affected the state’s tax revenue. As part of its initiative to meet the currency shortage in the state treasuries, government had deposited collections totalling about Rs 74.12 crore from beverages corporation, Rs 339.66 crore from KSEB and Rs 102.80 crore from lottery department till Apr 28 last, he said.