Business Other News 15 Jun 2016 Steep rise in Telang ...

Steep rise in Telangana’s tax revenues in current financial year

DECCAN CHRONICLE.
Published Jun 15, 2016, 1:55 am IST
Updated Jun 15, 2016, 1:55 am IST
Mr Rao said the growth was quite encouraging due to the vibrant real estate sector, despite the drought and other calamities.
TRS chief and Telangana CM K. Chandrasekhar Rao
 TRS chief and Telangana CM K. Chandrasekhar Rao

Hyderabad: Telangana state tax revenues registered a sharp increase in the first two months of the 2016-17 financial year. Chief Minister K. Chandrasekhar Rao, who reviewed the functioning of key tax-generating departments like commercial taxes, Excise, stamps and registration, transport and mining, said the revenue during April and May was Rs 7,687 crore against Rs 6,031 crore at the same time last year, registering an increase of Rs 1,656  crore or 27.45 per cent.

“If this trend continues, the state will get additional revenues of Rs 11,500 crore during the 2016-2017 financial year (in addition to Rs 45,000 crore to Rs 50,000 crore of total tax revenues). The growth is purely due to government policies, transparency, graft-free system and the new industrial policy among other proactive measures in Hyderabad and other parts of the state,” the CM told the meeting.

 

Mr Rao said the growth was quite encouraging due to the vibrant real estate sector, despite the drought and other calamities.

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Location: India, Telangana, Hyderabad




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