Preparing to present the first budget of Telangana State, the Chandrasekhara Rao government has set its eyes on mobilizing additional revenues for the State exchequer without raising taxes in the present financial year. The TRS government has begun exercise on the revenue mobilization by augmenting available sources and receipts. The Chief Minister on Saturday held a meeting with officials of the revenue department, the main source of income to government and reviewed the revenue position with Principal Secretaries Vinod Agarwal and BR Meena. Deputy Chief Minister Mahamood Ali was also present at the meeting.
KCR suggests additional resource mobilisation without raising taxes
TOTAL BUDGET: `80,000 cr
ESTIMATED REVENUE: `37,000 cr
Commercial Taxes including VAT: `24,000 cr
Prohibition and Excise: `10,000 cr
Stamps and Registrations, MV Tax: `3,000 cr
MAJOR EXPENSES:
Crop loan waiver scheme: `15,000 crore
Fee reimbursement scheme: `1,200 crore
According to sources, it has been estimated that the government could get a revenue of Rs 24,000 crore from Value Added Taxes, Rs 10,000 crore from Excise Department and Rs 3,000 crore from other sources like stamps and registrations and road transport authority, which adds up to Rs 37,000 crores. The Chief Minister directed the officials to increase this revenue by plugging the loopholes.KCR exhorted the officials to see that the estimations of revenues were practical and achievable. He said that there should not be glaring gaps between the estimates and actual receipts. The Chief Minister told the Commercial Taxes department to rationalize the export and import taxes and introduce a friendly collection system.He also wanted strict vigilance at the border check posts so that tax evasion did not take place. He said that the Commercial Taxes department must ensure no tax evasion.
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`80k-cr budget for Telangana
N M SATHEESH /Hyderabad: Preparing to present the first budget of Telangana State, the Chandrasekhara Rao government has set its eyes on mobilizing additional revenues for the State exchequer without raising taxes in the present financial year.The TRS government has begun exercise on the revenue mobilization by augmenting available sources and receipts. The Chief Minister on Saturday held a meeting with officials of the revenue department, the main source of income to government and reviewed the revenue position with Principal Secretaries Vinod Agarwal and BR Meena. Deputy Chief Minister Mahamood Ali was also present at the meeting.
KCR suggests additional resource mobilisation without raising taxes
TOTAL BUDGET: `80,000 cr
ESTIMATED REVENUE: `37,000 cr
Commercial Taxes including VAT: `24,000 cr
Prohibition and Excise: `10,000 cr
Stamps and Registrations, MV Tax: `3,000 cr
MAJOR EXPENSES:
Crop loan waiver scheme: `15,000 crore
Fee reimbursement scheme: `1,200 crore
According to sources, it has been estimated that the government could get a revenue of Rs 24,000 crore from Value Added Taxes, Rs 10,000 crore from Excise Department and Rs 3,000 crore from other sources like stamps and registrations and road transport authority, which adds up to Rs 37,000 crores. The Chief Minister directed the officials to increase this revenue by plugging the loopholes.KCR exhorted the officials to see that the estimations of revenues were practical and achievable. He said that there should not be glaring gaps between the estimates and actual receipts. The Chief Minister told the Commercial Taxes department to rationalize the export and import taxes and introduce a friendly collection system.He also wanted strict vigilance at the border check posts so that tax evasion did not take place. He said that the Commercial Taxes department must ensure no tax evasion.
The government is hoping to present a budget of Rs 80,000 crores with the help of State’s own revenues and Central grants. Since it has big agenda before it, the government wants to see that there are sizable revenue sources available. The Telangana government has promised crop loan waiver, increase of pensions, construction of irrigation projects and expansion of power projects, besides creation of infrastructure for the industries. While loan waiver scheme needs about Rs 15,000 crores, fee reimbursement needs Rs 1,200 crores and others need major allocations. There would be increase in the no plan budget with the increase in the salaries of the government employees. It also wants to present surplus budget to give a good image to the government
