The Comptroller and Auditor General (CAG) has said that the working government-owned firms in Gujarat have registered a turnover of Rs 91,309.63 crore, contributing 13.09% to state GDP. 

 

Five reports on state finances, revenue sector, public sector undertaking, economic sector and general and social sector, for the year ended March 31, 2013, were tabled in the Gujarat state assembly on Friday. 

 

Highlighting the achievements of the PSUs, the CAG report said that out of the 69 working PSUs, 42 earned profit of Rs 4,468 crore. The report also said that the investment in 81 state PSUs grew by 91.09%, amounting to Rs 97,472.56 crore. 

 

The auditor lauded the state government’s excellent performance in the efficient and result-oriented financial management of the state during the given period. 

 

The state’s tax revenue has increased by 128.9% during the years 2008-09 to 2012-13. Besides the state’s own tax revenue receipt has also increased by 19.49% over the previous year, the report said. Gujarat has achieved all the fiscal targets well within the prescribed limits as per the recommendations of the 13th finance commission. Against the target of containing fiscal deficit at 3% of GSDP, the state has successfully maintained it at 2.37%. 

 

The state has amended fiscal responsibility legislation in line with the 13th finance commission recommendations and achieved all the targets well within the targeted limits, the report highlighted. It also eliminated revenue deficit and achieved revenue surplus of Rs 5,570 crores.

 

The report also mentions the effective recoveries of VAT receipts by the state government. The contribution of the value added tax receipt in the total tax revenue of the state for the year 2012-13 is 73.22%. Gross receipt of the commercial tax department (VAT) for the year 2012-13 is of Rs 41,863.63 crores—26.26% higher than the previous year.