TG Sees Flow of Rs. 75,454 Cr in 6 Months

Hyderabad: The state government’s overall revenue receipts stood at Rs.75,454 crore in the first half of this fiscal (April-September 2024-25), according to the report submitted by the state government to the Comptroller and the Auditor General of India (CAG).

The data shows that the revenue collections through GST, stamps and registrations, and excise was impressive but the non-tax revenue collections were disappointing. The state's expenditure on salaries and pensions, subsidies and loan repayments has also increased significantly, the report says.

The state government has projected total revenue receipts for this current fiscal 2024-25 at Rs.2,21,242.23 crore in the Budget. Of this, it realised Rs.75,454 crore in the first six months of this fiscal (April-September), amounting to 34.10 per cent of the budget estimates.

Tax revenue earnings fared better at Rs.68,905 crore by September-end, which accounts for 41.91 per cent of total projected estimates of Rs.1,64,397.64 crore in the Budget for 2024-25.

However, loans and other liabilities account for the lion's share of state's revenue receipts till September-end, at `32,536 crore.

The state government took loans worth Rs.32,556 crore in six months out of projected estimates of Rs.49,255 crore for 2024-25. The government is left with a loan limit of less than Rs.17,000 crore for the second half of this fiscal (October-March 2024-25).

But the non-tax revenues continue to be disappointing. The non-tax revenues recorded at just Rs.4,101 crore till September-end, which accounts for just 11.65 per cent of total estimates of Rs.35,208 crore in Budget for 2024-25.

The grants-in-aid from the Centre fared even worse at just Rs.2,447 crore, which accounts for a meagre 11.31 per cent of total Budget estimates of Rs.21,636 crore.

Revenue through sales tax was impressive at Rs.16,081 crore, 48.08 per cent of the Rs.33,449 crore of budget estimates while that from Goods and Services Tax (GST) and stamps and registration was Rs.24,731 crore and `7,251 crore respectively by September-end.

Earnings in the form of state excise duties was recorded at Rs.9,492 crore, 37.06 per cent of Rs.25,617 crore estimated in the Budget while the state’s share of Central taxes stood at Rs.7,533 crore (40.98 per cent of budget estimates of Rs.18,384 crore).

With regard to expenditure, the state government incurred Rs.13,187 crore on account of interest payment, 74.38 per cent of Rs.17,729 crore projected for the year and Rs.21,279 crore on salaries and wages amounting to 53.14 per cent of the Rs.40,041 crore projected for the year. Payments in the form of pensions was on the higher side at Rs.8,560 crore, 73.54 per cent of Rs.11,641 crore projected for the entire fiscal.

The state plunged into a revenue deficit of Rs.15,752 crore and fiscal deficit of Rs.32,536 crore by September-end contrary to revenue surplus of R.297 crore projected in the Budget for 2024-25. The primary deficit during the period stood at Rs.19,348 crore.