Telangana relying heavily on taxes, income through sale of land to fund Budget

Hyderabad: The government is relying heavily on its own tax revenues, loans and sale of land to fund the largest-ever Rs 2.3 lakh-crore Budget presented on Thursday.

The government plans to raise market value of land to increase revenue earnings besides selling government land parcels, HMDA land parcels and lands and flats owned by Rajiv Swagruha Corporation.

In the 2020-21 Budget, the government had set a revenue earnings target of Rs 1,43,151 crore which was revised downwards to Rs 1,17,757 crore now due to the pandemic. Despite this, the government has set a target of Rs 1,76,126 crore in the 2021-22 Budget

The state earned Rs 76,195 crore tax revenues in 2020-21 but has pegged the target at Rs 92,910 crore for the next year.

The government has not revised market value of lands or increased stamp duty since 2014; it was last done in 2013.

Though there has been a decline in share of central taxes and grants-in-aid from the Centre for two years, the government has estimated them at a higher side in the new Budget.