State-owned tax revenue (SOTR) collections in 2021-22 have been again exceptional for Telangana. The State has not only exceeded its entire revenue collections from the last fiscal but has also increased its tax revenue by a whopping 44 percent by February of 2022 despite the adverse impact of the second and third waves of Covid-19.
Telangana collected a massive Rs 98,199 crore at the end of February, according to the latest data released by the Finance department at the end of the financial year 2021-22.
This is Rs 30,236 crore more than the total tax revenue of Rs 67,963 crore collected during the fiscal of 2020-21. As a result, the monthly average revenue has increased by Rs 2,500 crore.
We have not yet received the final statistics for taxes collected in March 2022. We are likely to surpass the Rs 1 lakh crore mark of the SOTR without much difficulty by the end of March 2022, based on the increase in monthly collections compared to last financial year, a Finance department official told Telangana Today.
In the meantime, Telangana received Rs 18,721 crore in Central taxes for the financial year 2021-22. Due to increased tax collections and improved tax collection methods, the State received Rs 15,926 crore in Central taxes from the Centre as opposed to an estimated Rs 13,900 crore.
Furthermore, Telangana received almost Rs 2,000 crores in additional funds, apart from another Rs 796 crore released from the Centre with regards to 2017-18.
A few weeks back, the State government officials were considering the deployment of drones to take advantage of cadastral activities and improve property tax collection.
Drones would improve property tax collection in urban areas, circumventing some of the common difficulties encountered in the domain, according to Socio Economic Outlook 2022.
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Maintaining and updating maps in urban areas would be made significantly easier by drones. By using them, surveying techniques could be made more affordable while providing detailed information on building sizes, capacities, and uses in the city.
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