April, May witness unexpected increase
Revenue exceeds 11,462 crores
Center supporting Telangana’s growth
Grant-in-Aid triples in just two months
Hyderabad, July 2 (Namaste Telangana): Telangana is emerging as a strong economic power since its formation. It is showing signs of bouncing back in various economic sectors with several major projects in progress. The central government under Prime Minister Narendra Modi has been providing significant support to the state. Telangana has achieved a remarkable growth in the past two years. It is currently experiencing a boost in revenue with great enthusiasm. In the last two months (April, May), the state has earned a total of Rs.20,238 crores. In this financial year, it has already reached Rs.31,700 crores. The GST revenue alone stands at Rs.7,430 crores, while revenue from excise duty amounts to Rs.2,683 crores and from stamps and registrations it is Rs.2,358 crores. Other revenues total Rs.891 crores.
Grant-in-Aid triples in just two months
The Modi government is making efforts to boost Telangana’s economic growth. It is working towards making the state economically self-sufficient and independent in various aspects. Despite facing various challenges, including the ongoing COVID-19 pandemic, the state is steadily progressing. However, the situation with Grant-in-Aid is currently critical. Telangana has been targeted by Grant-in-Aid since the last two years (2022-23 financial year). The state economic department has projected that Grant-in-Aid will amount to Rs.41,001 crores. The central government has only allocated Rs.13,087 crores. This is only 31% of the state government’s demand. Even this financial year, the center has reduced its allocation for Grant-in-Aid. In April, the state did not receive even a single rupee. In May, it received only Rs.1,438 crores. In total, the center has allocated Rs.41,259 crores as Grant-in-Aid for this financial year, of which only 3% has been disbursed. Prime Minister Modi’s government is blamed for neglecting BJP-ruled states. Telangana is the only state that has been affected by this reduction in Grant-in-Aid.
The state government is hoping to see a significant improvement in the economic situation with the support of Grant-in-Aid. It is important for the central government to fulfill its commitment to the state’s financial development.
