Telangana eyes non-tax revenue sources to meet budget shortfall
Deccan Chronicle.| Balu Pulipaka
Market value of land all set to be increased
With just two months to go for the current fiscal to end, the government wants to earn maximum revenues through non-tax revenue on which it has total control. (DC illustration)
Hyderabad: Despite tax revenue collections registering a decent growth this fiscal (2021-22), the state government is eyeing massive non-tax revenue in the remaining two months of the fiscal through the sale of lands and increasing market value of agriculture and non-agriculture lands. Funds are being mobilised to meet a huge shortfall in Centre's grants to the state this year besides meeting increased expenditure on welfare schemes and development programmes.
Finance minister T. Harish Rao had presented an ambitious budget of Rs 2.30 lakh crore for 2021-22. The targets set for GST collections were Rs 35,520 crore, stamps and registrations Rs 12,500 crore, sales tax (VAT) Rs 26,500 crore, excise Rs 17,000 crore, share in central taxes Rs 8,721 crore, non-tax revenue of Rs 30,557 crore, Centre's grants-in-aid Rs 38,669 crore and loans Rs 45,509 crore.
According to the data submitted by the finance department to the Comptroller and Auditor General (CAG) recently for the first eight months of this fiscal (April-November 2021-22), the revenue collections were in line with budgetary targets but non-revenue collection and Centre's grant-in-aid have hindered the state government's collections.
The non-tax revenue for April-November stood at just Rs 4,395 crore against the target of Rs 30,557 crore, while grants-in-aid received from the Centre was a mere Rs 5,687 crore against the budget estimate of Rs 38,669 crore.
With just two months to go for the current fiscal to end, the government wants to earn maximum revenues through non-tax revenue on which it has total control. The state government has almost decided to increase market value of agriculture lands, non-agriculture lands, plots and apartments from February 1 with a target to achieve Rs 15,000 crore through registrations against the budget target of Rs 12,500 crore. An official announcement is expected by January 31.
It is all set to shore up non-tax revenues by auctioning Rajiv Swagruha flats, houses, lands located under GHMC limits and districts such as Nalgonda, Khammam, among others besides HMDA lands in February and March to earn around Rs 5,000 crore.
The government is learnt to have decided to increase maximum market value of plots in Hyderabad district from Rs 84,500 per sq.yard to Rs 1,14,100. Similary in other districts, in Adilabad it increased from Rs 19,500 to Rs 26,400, Kothagudem (Rs 26,000 to Rs 35,000), Hanamkonda (Rs 18,250 to Rs 24,700), Jagtial (Rs 21,500 to Rs 29,100), Jangoan (Rs 9,250 to Rs 12,500, Bhupalapally (Rs 1,750 to Rs 2,400), Gadwal (Rs 8,500 to Rs 11,500), Kamareddy (Rs 6,500 to Rs 8,800), Karimnagar (Rs 32,500 to Rs 43,900), Khammam (Rs 39,000 to Rs 52,700), Asifabad (Rs 5,000 to Rs 6,800), Mahabubabad (Rs 4,250 to Rs 5,800), Mahbubnagar (Rs 13,000 to Rs 17,600), Mancherial (Rs 11,750 to Rs 15,900), Medak (Rs 15,000 to Rs 20,300), Medchal (Rs 39,000 to Rs 52,700), Nagarkurnool (Rs 7,000 to Rs 9,500), Nalgonda (Rs 23,500 to Rs 31,800), Narayanpet (Rs 5,000 to Rs 6,800), Nirmal (Rs 13,000 to Rs 17,600), Nizamabad (Rs 28,750 to Rs 38,900), Peddapalli (Rs 28,750 to Rs 38,900), Siricilla (Rs 13,000 to Rs 17,600), Rangareddy (Rs 39,000 to Rs 52,700), Sangareddy (Rs 28,000 to Rs 37,800), Siddipet (Rs 17,000 to Rs 23,000), Suryapet (Rs 19,500 to Rs 26,400), Vikarabad (Rs 9,250 to Rs 12,500), Wanaparthi (Rs 18,250 to Rs 24,700), Warangal (Rs 11,250 to Rs 15,200) and Yadadri (Rs 28,000 to Rs 37,800).
In Hyderabad, it is learnt that the government has decided to increase maximum market value of plots in Madinaguda from Rs 21,000 per sq.yard to Rs 28,350, Hafizpet (Rs 39,000 to Rs 52,700), Guttala Begumpet (Rs 28,000 to Rs 37,800), Rajendranagar (Rs 21,000 to Rs 28,400), Hydershakot (Rs 15,000 to Rs 20,250), Vattinagulapally (Rs 10,500 to Rs 14,200), Madhapur (Rs 20,000 to Rs 27,000), Raidurg (Rs 28,000 to Rs 39,000) Gaddiannaram (Rs 35,000 to Rs 47,250) and Mylardevpally (Rs 21,000 to Rs 28,400).
For apartments in Hayathnagar, the market value has been increased from Rs 2,400 per sft to Rs 3,000. Similarly, in Sahebnagar (Rs 3,000 to Rs 3,750), Shamshabad (Rs 3,600 to Rs 4,500), Gandipet (Rs 4,800 to Rs 6,000), Kokapet (Rs 6,600 to Rs 8,250), Maheshwaram (Rs 1,000 to Rs 1,250) and Ibrahimpatnam (Rs 1,800 to Rs 2,250).