Telangana experienced surge of Rs 14,526 crore in revenue receipts by November 2023-24

The latest report published by Comptroller and Auditor General (CAG), reflects a mixed fiscal performance, with revenue receipts scoring slightly above the 50 per cent mark for this period.

Hyderabad: Telangana witnessed an increase of Rs 14,526 crore i.e. 15 per cent in its revenue receipts at the end of November for the financial year of 2023-24, compared to corresponding period during last fiscal. The revenue receipts increased to Rs 1,11,141 crore in November 2023-24, realising 51.32 per cent of the budget estimates for 2023-24, against Rs 96,615.19 crore in November 2022-23.

The latest report published by Comptroller and Auditor General (CAG), reflects a mixed fiscal performance, with revenue receipts scoring slightly above the 50 per cent mark for this period. However, the capital receipts outpace expectations, reaching 88.17 per cent of the budget estimates.

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The government’s focus on capital expenditure, especially in the economic sector, is evident in the report.

As per the report, the tax revenue, a significant contributor, amounted to Rs 87,083 crore, with Goods and Service Tax leading the pack at Rs 30,047.59 crore. Non-Tax Revenue as well as Grants-in-aid and Contributions stood at Rs 19,524 crore and Rs 4,532 crore, respectively.

Capital receipts amounted to Rs 38,175 crore, forming 88.17 per cent of the budget estimates. Recovery of Loans and Advances contributed Rs 4.03 crore, while borrowings and other liabilities stood at Rs 38,151 crore. Total receipts, combining revenue and capital, reached Rs 1,49,316 crore, achieving around 57.46 per cent of the budget estimates. During corresponding period last fiscal, only 50.22 per cent of budget estimates was secured.

On the expenditure front, the revenue expenditure stood at Rs 1,14,746 crore, with salaries/wages and interest payment accounting for significant portions. Capital expenditure amounted to Rs 29,288 crore, with the expenditure on capital account leading at Rs 28,815 crore and demonstrating fiscal prudence at 78.05 per cent against 39.61 per cent during the corresponding period of 2022-23.

Tax Revenue: Rs 87,083 crore

Non-Tax Revenue: Rs 19,524 crore
Grant in aid and Contributions: Rs 4,532 crore

Revenue Expenditure: Rs 1,14,746 crore
Capital Expenditure: Rs 29,288 crore