The Comptroller and Auditor General (CAG) of India has declared in its website that with 17.2 % average growth rate in tax revenue, Telangana stands first compared to all other states in the country.
The CAG gave the details of the tax revenues of all the states from June 2014 to May 2018. In all, during the past four financial years while Telangana stands at 17.2% average growth rate in the first position, Haryana with 14.2%, Maharashtra with 13.9%, Odisha with 12.4%, West Bengal with 10.3% stand next. The rest of the states achieved below 10% growth rate.
On seeing this, Chief Minister K. Chandrashekar Rao said the progressive fiscal policies, fiscal discipline, and the commitment of the people in paying taxes to the government, resulted in Telangana achieving the highest average growth rate.
“Despite the effects of demonetization and GST on the finances of the state, Telangana has achieved stable growth rate. The growth rate will also help the government in the better implementation of development and welfare programmes in the state,” he said, according to a release by the TS CMO, here on Monday night.
Source: The New Indian Express