Marginal increase in tax devolution to TS
DECCAN CHRONICLE | dc correspondent
Hyderabad: The Centre's tax devolution to Telangana has witnessed a slight increase in the new fiscal (2023-24) over the previous fiscal, according to the Union Budget presented in Parliament on Wednesday. The Budget has put the tax devolution to Telangana at Rs 21,470 crore against Rs 19,668 crore in 2022-23.
Of the total tax devolution to States, Telangana accounts for 2.10 per cent. The tax devolution to Telangana has been increasing year after year. In 2021-22, it was Rs 17,932 crore, which increased to Rs 19,668 crore in 2022-23 and is at Rs 21,470 crore in 2023-24.
Total resources being transferred to all the states, including the devolution of states' share, grants/ loans and releases under centrally-sponsored schemes in the Budget 2023-24 was Rs 17,97,537 crore, which shows an increase of Rs 1,43,056 crore over actuals of fiscal 2021-22.
This apart, IIT-Hyderabad has been allocated Rs 300 crore, tribal universities in both Telugu states combined got Rs 37 crore, Rs 1,650 crore for Singareni Collieries, all 22 AIIMS in the country, including the one in Bibinagar, together got Rs 6,835 crore, all museums in the country, including Salarjung museum, got Rs 357 crore,
Indian National Centre for Ocean Information Services (INCOIS) in Hyderabad has got Rs 27 crore, while the heavy water plant in Kothagudem district along with Kota and Burajala plants in other states together got Rs 1,473 crore.
However, finance minister T. Harish Rao said that the states were actually receiving just 30 per cent from the central tax pool towards tax devolutions against the 41 per cent recommended by the 15th Finance Commission. He said the Centre is collecting taxes from states in the form of cess and surcharges deny a legitimate share in revenues collected by the Centre.