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Telangana Budget proposals may go down to 1.1L crore
The Telangana Budget outlay for the financial year 2017-18 may go down to Rs 1.10 lakh crore as the state could achieve only 29 per cent of the total revenue target of Rs 1.13 lakh crore in the first half of the current financial year. On one hand, the expenditure incurred by the government has increased and on the other the revenues were going down due to various factors, including the impact of
Hyderabad: The Telangana Budget outlay for the financial year 2017-18 may go down to Rs 1.10 lakh crore as the state could achieve only 29 per cent of the total revenue target of Rs 1.13 lakh crore in the first half of the current financial year. On one hand, the expenditure incurred by the government has increased and on the other the revenues were going down due to various factors, including the impact of GST on tax collections.
With the continuous drop in the revenues, the top officials of the Finance department told The Hans India that the total outlay would not cross Rs 1.10 lakh crore as against the proposed Rs 1.49 lakh crore this financial year.
The officials said, “Till August end, the government could earn only Rs 32,938 crore revenues, which was only 29.13 per cent of the total target of the revenues this year. The trend in the revenue receipts from April to August gave a clear indication that the government would realise not more than Rs 70,000 crore revenues in the next two quarters.
The state achieved revenue surplus of Rs 308 crore in April only. In the remaining months, it registered revenue deficit, officials said, adding that the post demonetisation, GST and slow-down in the economy were main reasons for declining revenues from the revenue-generating departments – Commercial Taxes, Excise, Transport and Stamps and Registrations.
Based on the economic trend, the government estimated to achieve a revenue surplus of Rs 4,571 crore in the first two quarters. In reality, Rs 2,812 crore revenue deficit was registered.
Moreover, the officials said, the expenditure by the government was increasing abnormally widening the gap between revenue receipts and expenditure. The total expenditure incurred was Rs 45,548 crore which is 32.67 per cent of the total target of Rs 1.45 lakh crore expenditure this year.
An amount of Rs 10,000 crore has been spent under capital expenditure and Rs 35,500 crore as revenue expenditure in the first two quarters. The total borrowings were alone Rs 14,000 crore.
The officials said that under these circumstances, the total budget outlay would be reduced to Rs 1.10 lakh crore by the end of this financial year.
Generally, the proposals made by the government during budget presentation would go down by 10 to 15 per cent when it comes to the actual. This year, the gap between the budget proposals and the actual would be more than 20 per cent.
The state economic condition would be poor unless the government takes measures to find new avenues for the increase of revenues and maintain discipline in the expenditure, officials added.
