NEW DELHI: Telangana has reported a 27.45% growth in own tax revenues, probably highest among the states, during the first two months of current fiscal thanks to improved tax collections from key departments. These include commercial, excise, stamps and registration, sales, transport and mines, among others. During the period under review, Telangana has reported Rs 7,687 crore of state own tax revenue as against Rs 6,031 crore a year ago, reflecting a growth of Rs 1,656 crore.
Going by the impressive performance, the state now hopes to report around Rs 11,500 crore of additional state own tax revenues during the full year of current fiscal. The development assumes significance in the backdrop of media reports that the financial performance of Telangana has deteriorated in revenue collections and that the revenue-surplus state was sharply heading to deep revenue deficit.
In the backdrop of adverse reports doing rounds, the Telangana chief minister K. Chandrasekhar Rao on Tuesday held a comprehensive review on state finances, covering ten key departments that contribute substantially to the overall state revenues. “Despite back-to-back droughts, Telangana has reported probably the best performance among the top couple of Indian states, that too without taking into account any central devolutions,” chief minister Rao told ET.
