Telangana Stares at Rs 9,335 Cr Revenue Deficit for 2021-22 FY
DECCAN CHRONICLE | MOULI MAREEDU
Hyderabad: Telangana state, which had revenue surplus up to 2018-19, faces a revenue deficit of Rs 9,335 crore (2021-22 FY) though it was lower than the Rs 22,298 crore deficit in 2020-21, the Comptroller and Auditor General (CAG) said in a report. It said the fiscal deficit constituted 27 per cent of the total receipts of Rs 1,74,155 crore.
Around 50 per cent of the revenue receipts, Rs 1,27,469 crore, was spent on committed expenditure like salaries Rs 30,375 crore, payment of interest Rs 19,161 crore and pensions Rs 14,025 crore. The eighth edition of the CAG’s annual publication ‘Accounts at a glance’ with regard to Telangana, was laid before the Legislature here on Sunday.
"The total receipts for 2021-22 were Rs 1,74,155 crore against a budget estimate of Rs 2,21,687 crore. The state government’s revenue through tax was Rs 1,09,992 crore; GST Rs 34,490 crore; taxes on income and expenditure Rs 10,871 crore; taxes on property and capital transactions 12,375 crore and taxes on commodities and services Rs 52,256 crore," the report said.
During the year, Rs 5,573 crore was received by way of CGST and Rs 28,917 crore on account of SGST.
The receipts during 2021-22 under grants-in-aid were Rs 8,619 crore. The share of centrally sponsored schemes in total grants-in-aid was 52 per cent, while the share of Finance Commission grants was 21 per cent while other grants constituted 27 per cent as far as the 2021-22 figures are concerned.
Approximately, 29 loans totalling Rs 45,716 crore, at interest rates varying from 6.89 to 7.37 per cent repayable between the years 2032 and 2051, were raised from the open market. In addition to these, the state government also raised Rs 1,279 crore from financial institutions like LIC, GIC and Nabard.
The report said that 67,274 crore was availed as ways and means advances and repaid during the year. This implies that the internal debt raised during the year, excluding ways and means advances, was Rs 46,995 crore while their repayments, excluding ways and means advances, was Rs 8,333 crore. "The state government also received Rs 4,784 crore from the Centre as loans and advances, while repayments made on this account amounted to Rs 510 crore," the report said.
The borrowings of Rs 46,995 crore in the year were partly utilised to meet capital expenditure of Rs 28,883 crore and loans and advances of Rs 8,469 crore.