Telangana govt exploring means to raise funds

Hyderabad: With the Centre placing hurdles in the efforts of the state to mobilise funds, Chief Minister K Chandrashekar Rao is contemplating finding alternative methods to generate revenue by speeding up the process of selling land, seeking corporation loans and increasing revenue from taxes.

A final shape to this policy is likely to be given at the cabinet meeting on August 11 (Thursday). Top sources said, "The cabinet will take some important decisions with regard to the mobilization of the funds in view of increasing financial burden on the state exchequer."

The government has to meet the expenditure on account of implementation of welfare schemes like the Dalit Bandhu, Aasara pension scheme for 57-year-old poor and also new pension scheme for dialysis patients from this month. Officials said that the government already initiated steps to sell the identified premium land through auction both in the districts and Hyderabad. District Collectors are understood to have prepared a report on the availability of litigation-free government lands in the prime areas which can help generate around Rs 3,000 crore.

The other major option before the government is to seek loans on behalf of the corporations and utilise them for capital investment. "This will help the government to divert more funds to the welfare schemes," sources said. The cabinet will discuss the issue of borrowing from corporations for different schemes. The government was already mobilizing funds from the Kaleshwaram lift irrigation scheme, Palamuru Rangareddy lift scheme and other programmes for the last five years. The CM will also review the status of the state-owned tax revenue and take some crucial decisions to enhance the revenues without burdening the common man. "The Commercial Taxes wing identified some loopholes in the tax collections and it will be rectified," they said.

The post-Covid, revenue generated from state taxes has increased in the 2022-2023 financial year and the government is expecting huge growth in the tax collections in the third and fourth quarters. Some more issues with regard to Dharani portal and national project status to Kaleshwaram will also be discussed in the cabinet meeting, said officials.