GST collections in Telangana doubled in five years

The GST collection in Telangana state witnessed a phenomenal increase in the last five years. The collection which was Rs. 11,639 crores till August 2019-2020 has increased to Rs. 24,052 crores till August 2023-2024. This year during the five months, there was a collection of 47 per cent of budget estimates of GST collections.

The GST collections in April 2023-2024 was Rs. 5,622 crore showing an increase of 13 per cent. Similarly, the collection was Rs. 4,507 crores in May, Rs. 4,681 crores in June, Rs. 4,849 crores for July and Rs. 4,393 crores in August. The budget estimates that there would be Rs. 50,942 crores GST collection for the financial year 2023-2024 of which already 47 per cent – that is Rs. 24,052 crore collected till date. Since seven months are left, the collection could surpass the budget estimates of the state government.

The shrew economic planning and policies of CM K Chandrasekhar Rao are yielding increased revenues. The State government has been spending huge sums on infrastructure development and welfare programmes in a balanced approach.

By Gollapudi Srinivasa Rao