Etala Rajender said this was 33.5 per cent of the annual estimated revenues, and was higher than expected
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Hyderabad: The Telangana government on Wednesday presented a rosy picture of its finances, saying that it had earned Rs 25,970 crore in the first four months of the 2015-16 financial year out of the total estimated revenues of Rs 77,581 crore.
Finance minister Etala Rajender said this was 33.5 per cent of the annual estimated revenues, and was higher than expected. The only area where revenues had not yet picked up was from the regularisation of encroached land. Mr Rajendra told a meeting of revenue earning departments, with commercial taxes minister T. Srinivas Yadav in attendance, that the targets would be met in the next two quarters.
Earnings in the first four months of the 2015-16 financial year stood at — April: Rs 6,660 crore; May: Rs 6,506 crore; June: Rs 6,662 crore; Up to July 20: Rs 6,142 crore; totalling Rs 25,970 crore
He said the state’s tax revenues totalled Rs 12,096 crore in the first four months, against estimates of Rs 46,495 crore, or 26 per cent.
“In the first three-and half months, revenues were expected to be 28 per cent of the Budget estimates,” he said.
He said the public debt at Rs 6,150 crore was in line with the limits set by the Fiscal Responsibility and Budget Management Act.
TS spent Rs 31,872 crore on flagship programmes, or 28 per cent of Budget estimates of Rs 1,15,689 crore.
TS in financial mess due to KCR, says Congress
Congress leader Shabbir Ali alleged that mismanagement and maladministration by the Chandrasekhar Rao government had pushed the state into bankruptcy. He said the government lacked funds for schemes. The notifications for 25,000 jobs, which Mr Rao promised to issue in July, too have been delayed due to financial crisis.
He said that TS had a surplus of Rs 7,500 crore when it was formed last year. Now, the government was struggling to borrow Rs 5,000 crore to pay salaries, and arrears and to clear loan waiver dues.
( Source : deccan chronicle )
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