Innovative Industrial Development of the Oil and Gas Region Based on Effective Budgetary Policy and Tax Administration Strategies

Highly profitable oil and gas companies are key taxpayers in the federal and regional budgets. The purpose of this study is to develop a flowchart of priority conditions and prospective results for the innovative development of oil and gas regions in the Volga Federal District. The framework is based on effective budget policy and tax administration strategies. Institutional mechanisms for improving the financial performance of developing a changing resource base and hardtop-recover oil reserves are examined. The innovation-based resource path of industrial development in the region is examined. Issues of technological sovereignty and the transition to a new industrial paradigm are analyzed. Particular attention is paid to financial innovation, concession agreements, and the policies of subfederal public-law entities. A regression analysis of the dynamics of the percentage component of tax deductions to the regional consolidated budget is conducted. Taxes on profits, personal income, and property of organizations in oil and gas regions are examined. A statistical analysis was conducted of the level of innovation activity, the share of organizations implementing technological innovations, innovation expenditures, and the volume of innovative goods, works, and services in oil and gas regions. The results of the study are presented as an equilibrium system of interdependent input and output, direct and intermediate elements of a flowchart for the innovative development of an oil and gas region. The diagram is based on budget policy and tax administration strategies.