Telangana Sees Significant Increase in Revenue Receipts: CAG

Hyderabad, Aug 2 (Maxim News): The Telangana Legislative Assembly has released the Comptroller and Auditor General CAG report on the status of the state for the year ending March 2023.  It said that the state’s GSDP has increased by 16 percent in 2022-23 compared to 2021-22.

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“Revenue receipts have increased significantly by 25 percent.  the growth rate of revenue receipts decreased by one percent. Own tax revenue increased significantly by 17 percent.  

The estimated cost of Irrigation projects has increased to Rs. 2,06,977 crore. The estimated cost of 20 projects to be completed by March 2023 has increased.

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The fiscal deficit has been reduced by Rs. 2,749 crores. Government loans and advances increased by 150 percent in 2022-23. The government has arranged loans for companies that do not have their revenue.  2-22-23 extra-budgetary borrowing is estimated at Rs. 1,18,629 crore. The government has provided Rs. 17,829 crore as further loans to those loans.  

The cost of interest on state development loans is underestimated. Grants coming from the center are heavily estimated. Telangana electricity companies have not received due from AP. Funds for houses, distribution of sheep, and oil palm schemes were not spent. The CAG said in its report that the allocation for Dalit Bandhu and loan waiver schemes was not hugely spent. (Maxim News)

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