Thiruvananthapuram, June 16: There was a record increase of Rs 1000 crore in collection of sales tax last year as the government's cost-cut drive started yielding results, chief minister A K Antony told the assembly today. Since the scope for fresh sources of tax in the state was bleak, the government had been following a strategy of financial discipline and maximisation of revenue collection from existing sources, he said in reply to a question.


The government was optimistic of meeting the full plan target this year, he said.
The government gave top priority to swap or restructure high-interest loans with institutions which offered lower rates of interest, he said.

The state had not received a fair deal from the 11th Finance Commission. The finance department had been asked to do a thorough home work to present the state's case effectively to 12th finance commission, to be set up next year, he added.
Bureau Report