Telangana

Telangana revenue receipts 30% less than Budget estimates

Telangana Chief Minister K Chandrashekhar Rao, before presenting the Telangana State Budget 2021-22 in the Assembly in Hyderabad. File photo: Special Arrangement

Telangana Chief Minister K Chandrashekhar Rao, before presenting the Telangana State Budget 2021-22 in the Assembly in Hyderabad. File photo: Special Arrangement

Telangana’s revenue receipts for the previous financial year 2021-22 are pegged at Rs. 1.27 lakh crore, close to 30% less than the Budget estimates.

The government has projected revenue receipts to be of the order of ₹1.76 lakh crore in the Budget, but the actuals at the end of the year stood at ₹1.27 lakh crore, reaching only 72.37% of the estimates. As expected, non-tax revenue and grants in aid and contributions lagged behind resulting in a major dip in the actual revenue.

While the non-tax revenue was pegged at ₹30,557 crore in the Budget estimates, the actuals at the end of the fiscal was just ₹8,857.37 crore, 28.99% of the projected figure. Grants in aid and contributions remained much lower at ₹8,619 crore against the projected ₹38,669 crore, achieving just 22.29% of the projected figure.

According to the Comptroller and Auditor General of India’s preliminary report, tax revenue improved during the previous financial year reaching ₹1.09 lakh crore as against the projected ₹1.06 lakh crore and revenue through stamps and registration was ₹12,372 crore, a shade short of the projected ₹12,500 crore. The State recoded goods and services tax collection of ₹34,489 crore, 97.1% of the projected ₹35,520 crore and revenue through State Excise duties too breached the projected figure. Revenue through State Excise duties reached ₹17,482 crore against the projected ₹17,000 crore and the same was the case with sales tax which reached ₹26,973 crore compared to Budget estimate of ₹26,500 crore.

Another area where the State received fillip was its share in Central taxes which reached ₹13,147 crore against the Budget estimates of ₹8,721 crore. The burden on account of interest payments continued to increase as the State had incurred ₹18,688 crore against the projected ₹17,584 crore. Borrowings and other liabilities continued to be on the higher side at ₹47,737 crore against ₹45,509 crore projected in the Budget estimates.

The State’s revenue deficit during the year 2021-22 was ₹10,163 crore against the ₹6,743 crore surplus projected in the Budget. Fiscal deficit reached ₹47,690 crore against the Budget estimates of ₹45,509 crore while the primary deficit was pegged at ₹29,002 crore compared with ₹27,925 crore in Budget estimates.


Our code of editorial values

  1. Comments will be moderated by The Hindu editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.

Printable version | May 17, 2022 1:12:54 pm | https://www.thehindu.com/news/national/telangana/state-revenue-receipts-30-less-than-budget-estimates/article65416431.ece