Telangana govt explores new options to raise funds
Officials from all departments have been instructed to submit proposals for enhancing revenue mobilisation and to also explore additional resources.
Hyderabad: To fund its electoral promises, the Congress-led State government has launched efforts to improve revenue mobilisation and ensure effective collection of taxes as well as arrears from various revenue sources. Officials from all departments have been instructed to submit proposals for enhancing revenue mobilisation and to also explore additional resources.
Ahead of presenting the State budget for 2024-25, the Finance department has already commenced the necessary exercise. While all departments have already submitted their proposals for the upcoming fiscal of 2024-25, Deputy Chief Minister Mallu Bhatti Vikramarka has commenced holding department-wise meetings to discuss these proposals over the next week.
Officials hinted at discontinuing certain existing schemes and replacing them with new schemes as per the new Congress government’s priorities.
“Besides cutting down the budget for certain existing programmes and schemes, all the departments have been instructed to explore fresh options for additional revenue resources including tightening the tax net, focusing on collecting arrears from various resources, and also making optimal usage of the funds under the Centrally Sponsored Schemes,” a senior official in the Finance department said.
Sources said the State budget was likely to be presented with an outlay of around Rs.3 lakh crore for the financial year of 2024-25. This is marginally higher than the previous fiscal’s budget of Rs.2.9 lakh crore. At the same time, with the Lok Sabha elections scheduled to be held in March and April, sources said the State government was not too keen on imposing any tax hikes immediately.
Senior officials from Industries, Revenue, Commercial Taxes, Mines, Housing Corporation, Housing Board, HMDA, TSIIC and other departments have been directed to clear the pending dues owed to the government by the respective departments. Those from Commercial Taxes, Stamps and Registrations, Municipal Administration, Panchayat Raj and others were instructed to improve their tax collection and ensure the collection of every paise due to the State government, apart from ensuring that those who were using loopholes and other methods to avoid paying tax were identified and brought into the tax net.
Departments with rich land pools including TSIIC, HMDA and Industries were instructed to realise and deposit the income generated from land auctions and leases. Specific directives were issued to ensure the utilization of industrial parks, with officials instructed to take necessary steps and prepare proposals on income generation.
On the other hand, all the departments have been asked to tighten their purses and avoid unnecessary expenditure. They were also directed against clearing major bills without prior approvals from the higher authorities.
