Nation Current Affairs 10 Sep 2021 Tax net improves in ...

Tax net improves in TS but state to raise more

DECCAN CHRONICLE.
Published Sep 10, 2021, 3:00 am IST
Updated Sep 10, 2021, 3:00 am IST
The government has set itself a target to earn Rs 30,557 crore non-tax revenues, in the Annual Budget 2021-22
With this, the state government has laid more focus on mopping up non-tax revenues to bridge the gap between income and expenditure. (PTI)
 With this, the state government has laid more focus on mopping up non-tax revenues to bridge the gap between income and expenditure. (PTI)

Hyderabad: The state government's tax collections have improved to pre-Covid levels after the lockdown was completely lifted on June 19, but the money was insufficient to meet increased expenditure on welfare schemes like Dalit Bandhu and development schemes.

With this, the state government has laid more focus on mopping up non-tax revenues to bridge the gap between income and expenditure.

 

Official sources said the government will come out with more decisions in October to increase non-tax revenues, after the recent initiatives of land auction and increase in market value of land and property registration charges fetched good revenues in July and August.

The government has announced the second round of land auction to sell 117 acres in Khanamet and Puppalaguda on the city outskirts, after the first round of sale of 49 acres in Kokapet and Khanamet in July fetched Rs 2,000 crore. This second round auction will be held on September 27 and is expected to fetch Rs 10,000 crore.

 

The government has set itself a target to earn Rs 30,557 crore non-tax revenues, in the Annual Budget 2021-22.

Of this, land sale is expected to fetch Rs 12,000 crore. The recent increase in market value of land and registration charges is expected to fetch `8,000 crore. There will be still a deficit of Rs 10,000 crore for which the government is considering selling 10,000 flats and lands owned by the Rajiv Swagruha Corporation in the third round of auction.

Sources said in the first five months of this fiscal (April-August 2021-22), the government earned tax revenues of Rs 33,061 crore besides raising loans of Rs 20,000 crore through auction of bonds.

 

Despite the fund mobilisation, the government still owes nearly Rs 28,000 crore for welfare schemes, bills to contractors etc due to financial crisis on account of Covid in previous fiscal 2020-21.

The government allotted Rs 2,000 crore to Dalit Bandhu in August to implement on a pilot basis in Hyderabad and requires another Rs 2,000 crore following CM's decision to extend this scheme to four more mandals in four Assembly constituencies soon.

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Location: India, Telangana, Hyderabad




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