 "The recent decline in corporate earnings is likely to cast a shadow on the government's direct-tax receipts and its fiscal position.")
Telangana state's revenue receipts met only 46.7 per cent at Rs 1.03 trillion during the first eight months of the current financial year (till November), against the actual budget estimate of Rs 2.21 trillion, indicating probable financial stress in the coming months.
According to the latest report of the Comptroller and Auditor General (CAG) on Telangana's finances up to November, the total receipts (Revenue and capital; receipts) achieved only 51.5 per cent to Rs 1.41 trillion against the budget estimated Rs 2.74 trillion.
Non-tax revenues of the state took a beating with just 14.82 per cent (Rs 5,217 crore) against the target of Rs 35,208 crore impacting the overall performance.
Capital expenditure stood at about Rs 21,000 crore, 62.2 per cent of the budgeted Rs 33,500 crore.
The state government borrowed Rs 37,850 crore till November this year thus utilising 71.7 per cent of the budget estimates of Rs 49,255 crore.
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With just four months left in the financial year, it remains to be seen the overall achievement of the key indicators.
The state government has already announced that it will launch "Rythu Bhrosa" investment support to farmers from the Sankranti festival next month.
The Revanth Reddy-led government, which assumed power in December, 2023, has already rolled out a slew of poll promises and 'guarantees', including Rs 21,000 crore loan waiver, free travel for women in state-run buses, supply of LPG cylinders for Rs 500, besides undertaking the caste survey.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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