Hyderabad:The Comptroller and Auditor General of India (CAG) on Friday released its detailed report on Telangana's state finances for April-November 2024, revealing significant increases in expenditure on debt servicing, salaries, pensions, and subsidies over the same period in 2023.
However, receipts and expenditure for the first eight months of this fiscal year remained lower than the corresponding period last year.
The report highlighted mixed fiscal trends for Telangana. While some revenue streams, such as sales tax and grants-in-aid, have shown notable improvement, the state struggles with declining non-tax revenues and rising fiscal pressure due to increased spending on interest payments, pensions, and subsidies.
The fiscal deficit's upward trajectory suggests potential challenges in achieving the fiscal targets for 2024-25.
As the state approaches the final quarter of the fiscal year, the report’s numbers show that the underlying imbalances between receipts and expenditures will be critical for the government to ensure fiscal sustainability.
The payment towards interest touched Rs 17,080.78 crore, which is 96.34 per cent of the Budget estimate of Rs 17,729.77 crore. Interest payments till November in the last fiscal was 65.55 per cent of the budget estimates (BE).
The expenditure for salaries and wages was Rs 28,196.04 crore — 70.42 per cent of Rs 40,041.79 crore BE. In the year-ago period, it was 68.73 per cent. The spend for pensions was `11,172.16 crore, 95.97 per cent of `11,641.38 crore BE. Last year till November it was 86.89 per cent.
Subsidies stood at Rs 8,443.90 crore by November end, which is 51.99 per cent of Rs 16,242.42 crore BE. In the yearago period, it was 47.51 per cent.
Revenue deficit, however, reduced to `14,288.37 crore in November 2024, down from `15,203 crore in October 2024. However, it contrasts with the projected revenue surplus of `297.42 crore for the full fiscal year 2024-25.
Fiscal deficit rose to `37,850.08 crore in November 2024, up from `35,120.91 crore in October 2024. This accounts for 76.84 per cent of the `49,255.41 crore BE, higher than 68.05 per cent last year.
Total revenue receipts stood at `1,03,300.04 crore, accounting for 46.69 per cent of the `2,21,242.23 crore budget estimate (BE). This was slightly lower than the 51.32 per cent achieved during the same period in 2023.
The tax revenues reached `93,553.51 crore, representing 56.91 per cent of the `1,64,397.64 crore BE, marginally lower than 57.10 per cent last year.
GST collections stood at `33,766.85 crore (57.63 per cent of `58,594.91 crore BE), marginally lower than 58.98 per cent last year. Stamps and registrations stood at `9,524.19 crore (52.25 per cent of `18,228.82 crore BE), slightly higher than 50.57% in 2023.
Sales tax collection stood at `21,081.42 crore (63.03 per cent of `33,449.21 crore BE), a significant jump from 49.60 per cent last year. State excise duties stood at `12,364.06 crore (48.26 per cent of ` 25617.53 crore BE), significantly lower than 73.46 per cent last year. State’s share of Union taxes stood at `11,472.79 crore (62.41 per cent of `18,384.19 crore BE), up from 56.29 per cent in 2023.
The non-tax revenues plummeted to `5,217.26 crore (14.82 per cent of `35,208.44 crore BE), a drastic decline from 85.60 per cent last year.
The Grants-in-Aid from the Centre increased to `4,529.27 crore (20.93 per cent of `21,636.15 crore BE), up from 10.99 per cent last year.
The capital receipts stood at `37,878.22 crore (71.72 per cent of `52,815.41 crore BE), lower than 88.17 per cent last year. Net borrowings and other liabilities stood at `37,850.08 crore (76.84 per cent of `49,255.41 crore BE), a significant drop from 99.78 per cent last year.
Total expenditure (revenue and capital) stood at `1,38,556.44 crore (54.46 per cent of ₹2,54,431.31 crore BE), lower than 57.80 per cent in 2023. Revenue expenditure stood at `1,17,588.41 crore (53.22 per cent of `2,20,944.81 crore BE), slightly lower than 54.21 per cent last year.
Capital Expenditure stood at `20,968.03 crore (62.62 per cent of `33,486.50 crore BE), significantly down from 78.05 per cent last year.
