TS Sets New Record in Tax Revenue Earnings in Feb at Rs 13,704 Crore

Hyderabad: Telangana has set a new record in tax revenue earnings in February during the current fiscal 2023-24, which is going to end in another two days. It earned Rs 13,704 crore in February which is Rs 2,400 crore higher than the average monthly earnings of Rs 11,286 crore in the past 11 months of 2023-24. The income through stamps and registrations has been witnessing a steady increase since January 2024 after the Congress came to power in December 2023.

The income through property registrations by stamps and registrations department was Rs 1,300 crore in December 2023, in the first month of the Congress rule. In January 2024, the income was Rs 1,044 crore and rose to Rs 1,282 crore in February.

Similarly, the income through GST in December 2023 was Rs 4,100 crore. In January 2024, it registered Rs 3,848 crore and further increased to Rs 4,446 crore in February.

The total tax revenue earnings of the state government also witnessed a decent increase in February. The total tax revenue collections in December 2023 was Rs 12,609 crore. It was Rs 10,748 crore in January 2024 and touched a new high of Rs 13,703 crore in February. This is 13 per cent higher when compared with previous fiscal 2022-23.

Official sources said that the revenue earnings of the state government are witnessing a decent increase under the Congress rule due to effective measures taken to improve tax collections and plug leakages in taxes.

In the last 11 months of this fiscal (April-February 2023-24), the state government stood at Rs 1,51,947 crore while the expenditure was Rs 1,87,357 crore. The government secured loans of Rs 41,448 crore through auction of bonds by the RBI.