Jammu and Kashmir records 8 per cent growth in excise tax collection in FY'14

JAMMU: Jammu and Kashmir has registered a growth of over 8 per cent in excise tax collection to Rs 991.55 crore during the financial year 2013-14. This was stated during a review meeting of the Excise Department held here yesterday under the chairmanship of the Minister for Finance and Ladakh Affairs, A R Rather, an official spokesman said.

The Excise Department has collected a revenue of Rs 991.55 crore during the financial year 2013-14, recording an increase of Rs 75.85 crore over the preceding year's collection, the spokesman said. Rather said the department has shown tremendous improvement in revenue realisation in the past few years, adding that it has an important role to play in strengthening the economy of the State and taking forward the development spree.