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Punjab sets Rs175cr as target from lottery revenue in current fiscal

Punjab sets Rs175cr as target from lottery revenue in current fiscal
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First Published: Thu, Nov 29 2007. 02 56 PM IST
Updated: Thu, Nov 29 2007. 02 56 PM IST
PTI
Chandigarh: It might seem to be an astonishing target, but its true. The lotteries department of Government of Punjab has set a target of earning Rs175 crore as revenue from the sale of lottery in the current fiscal year.The state government has earned Rs168 crore from lotteries during past five years.
“The revenue from the sale of lotteries has already touched the mark of Rs98 crore by now and the department is targeting total revenue of Rs175 crore by the end of current fiscal,” informed an official of Punjab Lotteries Department.
According to the lottery department, the income from lotteries has been growing consistently over the past few years. The department earned a revenue of Rs68.36 crore in 2002-03 which grew to Rs168.70 crore in the year 2006-07. A whopping 147% rise!
There are three categories of lottery in the state, the biggest contributer to the revenues being the weekly one. “The department is selling about 9.60 crore of weekly lotteries per day,” said ann official at the department.
In an effort to push up the sale of lotteries in the state, the lotteries department has tied up with Post Office Department whereby all the post offices in Punjab would sell Diwali Bumper lotteries from next year against a commission of Rs20 per ticket.
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First Published: Thu, Nov 29 2007. 02 56 PM IST
More Topics: Lottery | Punjab | Revenue | Target | Fiscal |