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The slow pace of growth of revenue receipts continued for the fourth month in a row in the current financial year with Telangana’s total revenue receipts standing at ₹46,845.54 crore at the end of July.
This is 21.63% of the ₹2.16 lakh crore revenue receipts projected in the budget estimates for the current fiscal. Of these, tax revenue was little higher at ₹42,712 crore, 28.01% of ₹1.52 lakh crore of the budget estimates. The non-tax revenue during the period stood at ₹1,815 crore, just 7.96% of the ₹22,808 crore of budget estimates, while grants in aid and contributions was ₹2,317 crore, a meagre 5.62% of the projected ₹41,259 crore at the end of four months.
Revenue through Goods and Services tax was ₹15,224 crore, close to 30% of ₹50,942 crore estimated in the budget and that through State Excise duties was ₹6,074 crore, 30.55% of ₹19,884 crore projected in the budget estimates. The State’s share of Union Taxes and Other Taxes remained stable at ₹4,026 crore and ₹2,528 crore, respectively, during the period registering close to 28% of the projections.
Borrowings, a majority through open market, crossed ₹20,000 crore in four months, reaching ₹20,649 crore at the end of July. This leaves the State with an option of raising another ₹18,000 crore during the next eight months of the fiscal year.
On the expenditure side, salaries/wages accounted for ₹13,686 crore, 35.43% of the ₹38,627 crore projected in the budget estimates and expenditure on account of pensions was ₹5,461 crore, 41.94% of ₹13,024 crore of the budget estimates. Interest payments during the first four months was ₹7,174 crore, 32.02% of the ₹22,407 crore provisioned for the fiscal.
According to the provisional information released by the Comptroller and Auditor General of India, the State registered a revenue deficit of ₹3,458 crore at the end of July against the ₹4,881 core surplus estimated for the entire financial year. Fiscal deficit stood at ₹20,637 crore, 36.81% of the ₹56,062 crore of the budget estimates.
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