TS Government Achieves Half of Gross Earnings Target in Six Months

Hyderabad: The Telangana state government has achieved almost half of the gross earnings target for this fiscal 2023-24. The gross earnings in the first half of this fiscal (April-September) has been recorded at Rs 1.18 lakh crore against the annual budgetary target of Rs 2.59 lakh crore. Of this, the state government has spent Rs 47,000 crore on welfare schemes alone.

As per the data released by the Comptroller and Auditor General of India (CAG) for the first half of this fiscal (April-September), the gross earning of the state government stood at Rs 1,18,558 crore against the budgetary target of Rs 2,59,861 crore for the entire fiscal amounting to 45.62 per cent of the total target.

Of this, revenue earnings (which are recurring in nature) account for Rs 87,207 crore and capital receipts (which are one-go earnings) stood at Rs 31,351 crore. Out of total revenue earnings, tax revenues account for Rs 66,691 crore.

GST remained the highest contributor to tax revenues at Rs 22,643 crore followed by  commercial taxes (VAT) at Rs 14,910 crore, excise tax (liquor) Rs 12,255 and stamps and registrations at Rs 7,006 crore. Another Rs 6,102 crore was accrued through state's share in central taxes and Rs 3,772 crore through other taxes and duties.

The state government secured Rs 31,333 crore through auction of bonds by the Reserve Bank of India (RBI) from April to September.

The state government spent Rs 1,14,151 crore from April to September. Of this, Rs 20,276 crore was spent on salaries for employees and Rs 8,491 crore was spent on pensions for retired

employees. Expenditure on welfare schemes stands at Rs 47,227 crore and Rs 4,054 crore was spent on subsidies for ration rice, free power to agriculture and other poorer sections.