Telangana indeed has emerged fastest-growing State in the country by clocking the highest growth in its own tax revenue as often reiterated by Chief Minister K. Chandrasekhar Rao.
The data released by the Comptroller and Auditor-General up to March 2016-17 revealed that Telangana’s own tax revenue went up to 48,408 crore during 2016-17 from 38,460 crore in 2015-16 registering a growth of 25.87%.
The instances mentioned in this Report are those which came to notice in the course of test audit during the period 2015-16, as well as those which came to notice in earlier years, but could not be reported in the previous Audit Reports; instances relating to the period subsequent to 2015-16 have also been included, wherever necessary.
Devolution to the state was enhanced to the tune of 2,525 crore during 2016-17 on the basis of 14th Finance Commission recommendations, the report said.
“Audit noted that additional devolution led to increase in revenue expenditure by 5,536 crore over previous year,” it said.
Trend Continues
State’s own tax revenue in the first quarter from April to June was 12,985 crore as against 11,586 in the corresponding period of 2016-17 registering a growth of 12.08%. Bulk of it came from tax on sales and trade (VAT) before the Goods and Services Tax kicked in from July 1 with 8,873 crore (8.263 crore in the first quarter of the last year).
The data released by the Comptroller and Auditor-General up to March 2016-17 revealed that Telangana’s own tax revenue went up to 48,408 crore during 2016-17 from 38,460 crore in 2015-16 registering a growth of 25.87%.
The instances mentioned in this Report are those which came to notice in the course of test audit during the period 2015-16, as well as those which came to notice in earlier years, but could not be reported in the previous Audit Reports; instances relating to the period subsequent to 2015-16 have also been included, wherever necessary.
Devolution to the state was enhanced to the tune of 2,525 crore during 2016-17 on the basis of 14th Finance Commission recommendations, the report said.
“Audit noted that additional devolution led to increase in revenue expenditure by 5,536 crore over previous year,” it said.
Trend Continues
State’s own tax revenue in the first quarter from April to June was 12,985 crore as against 11,586 in the corresponding period of 2016-17 registering a growth of 12.08%. Bulk of it came from tax on sales and trade (VAT) before the Goods and Services Tax kicked in from July 1 with 8,873 crore (8.263 crore in the first quarter of the last year).
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