Telangana State pulls up socks to increase revenues
- Telangana Government plans to generate a revenue of Rs 1 lakh crore by the end of present fiscal
- However, it could collect only 65 per cent of the target
- Hike in fuel prices give big relief to State as the VAT on fuel sales increase to Rs 800 crore from Rs 700 crore every month
- The increased VAT collections would help the State to overcome revenue loss amid pandemic
Hyderabad: With just 45 days left for the current financial year 2020-2021 to end, the Telangana government has pulled up its socks to achieve the targets in revenue generation. In this regard, special teams have been formed in the revenue generating departments, mainly in Commercial Taxes wing to improve the revenue collection.
Chief Secretary Somesh Kumar called upon the officials of the Commercial Taxes department to focus on revenue drive and rededicate themselves to the task of revenue realisation during the next 45 days to achieve the desired targets.
As many as 460 teams with 1,376 personnel have been constituted across the State to increase the revenues before the end of this financial year. The department has been reorganised twice by creating two additional divisions, 18 circles and 161 new posts.
With target of Rs 1 lakh crore revenue generation, even the other revenue generating wings such as Excise, Stamps and Registrations and Transport have also taken up a drive to improve the revenue collection.
However, so far, only 65 per cent of the target has been realised. While, the increased fuel prices have made holes in the pockets of citizens, it gave a big relief to the State as the VAT on petrol and diesel sales increased to Rs 800 crore from Rs 700 crore every month. The increased VAT collections would help the State to overcome revenue loss amid pandemic.
Moreover, there is a 17 per cent of increase in the revenue collection from liquor sales compared to that of last year. Till January, government earned Rs 9,500 crore from liquor sales as against Rs 7,900 crore in the corresponding year, said an official. This year government targets Rs 17,000 crore liquor revenue from Excise. In case of revenue from government registration, the State incurred losses over Rs 2,000 crore, while they expected to earn Rs 10,000 crore.