Eatala holds review with revenue earning departments

Hyderabad, July 22 (INN): Finance Minister Eatala Rajender on Wednesday conducted a review meeting with all the major revenue earning departments of Telangana State.

Officials from Commercial Taxes, Excise, Stamps and Registration, Land Revenue, Mines and Minerals and Forests departments participated in the meeting. Commercial Taxes Minister Talasani Srinivas Yadav also participated in the discussions.

'The total state's own tax revenues as per the Budgeted Estimates are Rs.46,495 crores. Against which the receipts in the month of April, May, June and July (20-07-2015) are Rs. 3070 crores, Rs. 3056 crores, Rs. 3395 crores and Rs. 2,574 crores, amounting to a total of Rs. 12,096 crores. This amounts to 26% of the total estimated receipts for the year. In the first three-and-a-half months, it is expected that the revenues would be around 28% of the budgeted estimates. Thus, achievement is very encouraging. Stamps and Registration Department has shown an impressive growth of more than 25% over the last year's receipts whereas the overall increase in receipts compared to last year is around 10%,' said the Finance Minister.

The total revenue receipts of the State as per the BE are Rs.77,581 crores. Against which the figures for April, May, June and July (20-07-2015) are Rs.6,660 crores, Rs. 6,506 crores, Rs. 6,662 crores and Rs. 6,142 crores, totaling to Rs. 25,970 crores. Thus, the total revenues are at 33.5% of the annual estimated revenues which is more that what is estimated.

The Public Debt of the State is in line with the FRBM limits i.e., at Rs.6,150 crores. 'Overall the state has shown an impressive performance in terms of revenues. The only areas in which revenues are yet to pick up are from the regularization of the land and it was indicated during the review meeting that this is also likely to be achieved during the next two quarters,' Eatala said.

On the expenditure side also Telangana State has provided sufficient resources for all the flagship programmes of the state. The total expenditure is Rs. 31,872 crores which is 28% of the Budgeted Estimates for the year of Rs.1,15,689 crores. Normally, the first quarters has less expenditure as the departments are still grounding the schemes. However, because of careful planning, Telangana State has ensured that the programmes are grounded and sufficient resources are made available for all the programmes.