While several States are facing a grim economic crisis, Telangana continues to grow its revenues despite the Centre denying its rightful share. As compared to the previous fiscal year, the State’s revenue receipts in the first half of the current financial year grew by 39 percent.
At the end of September, the State’s total revenue receipts were Rs 73,767 crore, a significant jump from the Rs 53,109 crore recorded in the first half of last year.
The State government had planned to accrue a total of Rs 1.93 lakh crore in revenue receipts as per the budget estimates for 2022-23. Within the first six months, Rs 73,767.13 crore have been realized. Typically, the tax revenue receipts are higher during the last three months of the financial year, and considering the increased tax revenue, officials are confident of reaching the target by the end of the year.
The total revenue receipts till September end were Rs 59,859.25 crore from taxes, and Rs 21,784.65 crore from capital receipts. There were Rs 8400.26 crores in non-tax revenue.
The Comptroller and Auditor General of India has provided provisional data indicating that Goods and Services Tax (GST) revenue was Rs 19,593 crore. In October this year, Telangana collected Rs 4,284 crore in GST against Rs 3,854 crore in October last year, an increase of 11%. Compared to the previous financial year, the State has experienced a consistent growth of over 10 percent in GST collections.
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Revenues from Stamps and Registration were 7,212.73 crores, while sales tax was 14,953.81 crores. As property transactions increase and registration values increase, Stamps and Registrations earn more revenue. Additionally, the State government increased liquor prices, increasing revenue from State Excise Duties as well.
The State’s share of Central taxes was Rs 5,087 crore, while its share of State excise duties was Rs 8,899 crore. The income from Grants in Aid and Contribution stayed at Rs 5,507.62 crore, revealing the Centre’s discrimination towards the State, which realised Rs 4,112 crore from other taxes and duties.
In terms of revenue expenditure, the State government spent Rs 77256.71 crore, which included interest payments of Rs 10,100.47 crore, salary/wage payments of Rs 18,829.07 crore, pension payments of Rs 9,093.7 crore, and subsidy payments of Rs 4834.54 crore.
The increased expenditure on salaries/wages and pensions has been attributed to the implementation of the Pay Revision Commission’s recommendations beginning in June for the current financial year. The total capital expenditure was Rs 7866.62 crore.
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