Strong increase in tax revenue in Telangana

Hyderabad: In an encouraging fiscal performance, Telangana recorded fiscal revenue of Rs 1.33 lakh crore in the first seven months of financial year 2023-24.

While the Goods and Services Tax (GST) emerged as a significant contributor to state revenues, the state’s own tax revenues also significantly improved its finances. From just Rs 22,300 million in the first seven months of the first financial year (2014–15) after the formation of the state, the total fiscal revenue in Telangana increased to Rs 1,10,874 million.

According to the last report of the Comptroller and Auditor General of India (CAG), Telangana has outperformed its larger counterparts across the country. As against the budgetary estimate of total revenue of Rs 2.59.862 million for the current financial year, Telangana collected an impressive figure of Rs 1.33.174 million in the first seven months (April to October) and achieved a substantial achievement of 51.25 per cent. of. Of the estimated estimates.