Thanks to the economic reforms initiated by the Telangana government in the fiscal administration, the state’s revenue grew by ten times in the last ten years. The revenue generated by the state in the months from April to June in 2023 is ten times more than the revenue during the same period in 2014-15.
The revenue generated by the Telangana government in the first trimester of the 2023-24 financial year (FY) is Rs. 67,494.73 crores as against a revenue of Rs. 6,562.07 crores in the first trimester of 2014-15 FY. The significant aspect is that the revenue made by Telangana from April to June in 2023 is 25.97% of the revenue estimates of Rs. 2,59,861.91 crores for the current fiscal.
In contrast, the state generated just 6.73% of the revenue estimates from April to June in 2014-15 FY. But in a year, Telangana scripted a remarkable turnaround by generating 22.52% of revenue estimates for 2015-16 FY in the first trimester itself. The astounding growth speaks volumes about the strong steps taken by the KCR-led Telangana government to improve its revenues.
Out of the Rs. 67,494.73 crore revenue made by the state from April to June in 2023, the lion’s share was from GST which accounted for Rs. 15,224 crore. Sales tax (Rs. 10,171 crores), excise duty (Rs. 6,074 crores), stamps and registrations (Rs. 4,686 crores), central tax share (Rs. 4,026 crores), grant-in-aid (Rs. 2,317 crores), and non-tax revenue (Rs. 1,815 crores) are the other major contributors to the state’s exchequer.