Hyderabad: Fall in revenues due to demonetisation has set alarm bells ringing in both the Telugu states.
The major revenue earning departments in both the states, commercial taxes, stamps and registration, excise and transport, have submitted reports to governments on losses to be incurred due to halting of property, vehicle, liquor and business transactions.
There are indications that Prime Minister Narendra Modi will hold a meeting with CMs of all states to assess the loss caused to states.
Telangana Losses
Rs 5,500cr: Monthly earnings
Rs 4,500cr: Own tax
Rs 1,000cr: Centre’s tax devolution
Rs 1,500cr: Tax revenue from Nov. 1 to 8
Rs 300cr: Tax revenue from Nov. 9 to 14
Rs 5,600: Monthly expenditure
Rs 2,500cr Salary bill
Rs 2,500cr: Pensions, welfare schemes
Rs 100cr to Rs 150cr: Average revenue earnings per day
Rs 25cr: Average revenue earnings per day since Nov. 9
