Panel seeks input from business on boosting state revenue streams

The Revenue Augmentation Committee, constituted to address the state's fiscal challenges, has launched a series of consultative meetings with key stakeholders from the trade and industrial sectors. The committee, headed by noted economist Montek Singh Ahluwalia, is tasked with formulating recommendations to boost the state's own-source revenues on a sustainable and long-term basis.

The consultative approach reflects the committee's commitment to gathering practical insights from businesses and traders who operate within the state's economy. By engaging directly with stakeholders, the panel aims to understand ground-level challenges and identify revenue-generation opportunities that balance fiscal objectives with business interests.

The committee's mandate encompasses both tax and non-tax revenue streams, indicating a comprehensive approach to strengthening the state's financial position. This includes examining existing tax structures, identifying compliance gaps, and exploring new revenue avenues without placing undue burden on the economy.

The consultations are expected to inform policy recommendations that will help the state reduce its fiscal dependence and improve its financial sustainability. The committee is likely to present its findings to the state government in the coming months, with implementation expected to follow thereafter.