As claimed by Chief Minister K. Chandrasekhar Rao often, the Telangana State has achieved the highest tax revenue growth in the country during the 2016-17 financial year.
The State posted 17.82% growth in 2016-17 tax revenue compared to the previous fiscal. According to officials, the statistics of States’ financial performance during 2016-17 were released by the Comptroller and Auditor General (CAG) on Thursday which showed that only five States, including Telangana, achieved double-digit growth in the collection of tax revenue.
Mr. Chandrasekhar Rao, who on several occasions had reiterated that the State’s income growth rate would never be less under any circumstances, expressed happiness over the achievement. The Chief Minister said the growth in the State’s Own Tax Revenue (SoTR) and State’s other Revenue (SoR or non-tax revenue) was very much on the expected lines.
The State has netted a tax revenue of ₹39,183 crore in 2016-17 against ₹33,257 crore in the previous year with a highest growth rate of 17.82%. Jharkhand (16.86%), Chhattisgarh (11.41%), Maharashtra (11.15%), Haryana (10.12%), West Bengal (9.23%) and Andhra Pradesh (9.01%) have the next highest growth rates.
“Despite adverse circumstances, the State’s growth rate has not decreased but posted an increase, which itself is credit-worthy,” the Chief Minister said in an official statement and congratulated and thanked the State government officials. “Since there is an expected rate of growth in the income, we will take forward the welfare programmes with renewed vigour and confidence,” he noted.
While the growth rate was 17.82% in the collection of main taxes – sales tax, excise and stamps & registration – the growth rate including other taxes such as transport and other ways and means was almost similar at 17.81%. Against the total State’s revenue of ₹36,130 crore in 2015-16, it has achieved ₹42,564 crore during 2016-17, officials said.
