We have money for schemes: FM Etela Rajender

He said the state would further strengthen the auditing system

Hyderabad: Finance minister Etela Rajender on Saturday said that the financial condition of Telangana state is good and it is doing well both on revenue and expenditure fronts.

He said that the revenue and expenditure in the first five months of current fiscal year 2015-16 (April-August) was very much in line with budgetary expectations and there was no financial crisis as is being alleged by Opposition parties.

“The Opposition parties are trying to project as if Telangana has plunged into financial crisis and is not in a position to release any funds for welfare schemes or payment of bills. This is totally false. All the welfare schemes are being implemented smoothly and there is no stoppage of any bills except those which require verification and re-verification before making payments. This is to ensure that there is no misuse of public money. The fact that we have not sought ways and means advances from the Centre to mobilise funds so far shows the strong financial condition of TS,” he said.

The minister revealed that misuse of funds was detected in some departments — namely revenue, civil supplies, treasury and finance — during auditing and stern action will be initiated against those found involved in it. He said the state would further strengthen the auditing system to plug the loopholes on revenue and expenditure front.

Mr Rajender said the tax revenue was on expected lines but revenue from sale of lands is yet to be realised.

“We could mobilise just about Rs 250 crore through sale of lands in parcels in Hyderabad and surrounding districts, though we have targeted Rs 13,500 crore revenue under this head. It includes sale of lands, regularisation of lands and buildings etc. All these initiatives would be taken in the remaining months of the current fiscal,” he said.

He added that the state earned Rs 37,534 crore during the last five months and spent Rs 37,369 crore, by achieving 93 per cent target, showing that there was no major gap between revenue and expenditure.

( Source : deccan chronicle )
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