TS REVENUE DEFICIT CROSSES `4,000CR
In the first half of the current financial year, the Telangana State government’s revenue deficit has crossed `4,000 crore against the budget estimate of revenue surplus of `4,571 crore at the end of the financial year.
In the first quarter, the revenue deficit was `2,080 crore and at the end of the second quarter it has climbed to `4,281.17 crore.
Compared to the first quarter, the revenue has been reduced by `1,566 crore in the second quarter. Even though non tax revenue and revenue from excise duty and stamps and registrations has increased, the tax revenue has reduced by `1,583 crore.
In the first half of the current financial year, the Telangana State government’s revenue deficit has crossed `4,000 crore against the budget estimate of revenue surplus of `4,571 crore at the end of the financial year.
In the second quarter, the total revenue of the state was `38,132 crore and the revenue expenditure was `41,413 crore, which led to a revenue deficit of `4,281 crore.
The state’s revenue in the first quarter was `19,849 crore and in the second quarter it was `18,283 crore. The revenue expenditure was reduced in the second quarter compared to the first quarter, however the state is facing a revenue deficit.
The revenue expenditure in the first quarter was `21,930 crore and in the second quarter it was `20,483 crore. The tax revenue was `16,560 crore in the first quarter and it was `14,977 crore.
Officials say that the newly introduced Goods and Services Tax has affected the tax revenue in the second quarter.
The revenue from excise duty was increased by `224 crore and the revenue from stamps and registrations also
ACCORDING TO THE present trend it is very difficult to reach the budget figures in the next six months.
increased by `83 crore in the second quarter.
The non tax revenue also increased by `364 crore in the second quarter. The capital expenditure was `5,750 crore in the first quarter and in the second quarter it has reached to `11,939.91 crore. The revenue expenditure was reduced by `1,447 crore and capital expenditure was increased by `6,190 crore.
Total budget for the current financial year is `1, 44,986 crore, but at the end of first half year, the total expenditure was `54,353 crore.
State government has spent only one- third of the total budget in the first six-month period.
According to the present trend it is very difficult to reach the budget figures in the next six months. In the previous financial year in the revised budget estimates it has reached to 86 per cent of the budget estimate. In the current financial year also at the end of the year in the revised budget estimates it may likely reach 85% of the budget estimate.