Major deficit in Gujarat state’s revenue with a deficit of Rs 6000 crores due to hike in the fuel prices of petrol, diesel and gas. In current financial year 2015-16, state could generate an income of Rs 52,000 crores against targetted income of Rs 58,000 crores till March 31, 2016. Less Tax revenue generation from VAT in the state treasury towards tax collection from petrol, diesel and gas. Decrease in income of E-Commerce, Alang Ship Yard and Real Estate sector.
Deficit of Rs 6000 crores will have impact on Gujarat Budget for the year 2016-17. No reliefs may be granted as a result of deficit due to fuel prices, as per financial sources .
