Live
- Formula-E race: KTR dismisses charges, terms them baseless
- Cong demands Bharat Ratna for Manmohan Singh
- Police holds helmet awareness rally
- Satellite data, AI to be used for Rythu Bharosa: Tummala
- Hyderabad: Woman alleges rape, police launch investigation
- Wanaparthy: 10 litre illicit liquor seized; 1 arrested
- 6 months and no pay! CITU demands immediate payment of pending salaries for 104 employees
- District-level science fair on January 4
- Sand mafia operating brazenly: Farmers report financial losses as tractors destroy their bitter gourd crops
- People told to promote peace for happy society
Telangana ranks 3rd in collection of State-owned taxes
Telangana stands among top three States in the country for the collection of State Owned Tax Revenues SOTR and also nontax revenues Goa and Uttar Pradesh stand first and second respectively and Telangana secured third place in revenue collections in the total Gross State Domestic Product GSDP of the respective States The neighbouring Andhra Pradesh was ranked 14 among other States
​Hyderabad: Telangana stands among top three States in the country for the collection of State Owned Tax Revenues (SOTR) and also non-tax revenues. Goa and Uttar Pradesh stand first and second respectively and Telangana secured third place in revenue collections in the total Gross State Domestic Product (GSDP) of the respective States. The neighbouring Andhra Pradesh was ranked 14 among other States.
Officials said that the measures taken by the government mainly streamlining the tax collection system by strengthening the administrative mechanism and growing business prospects in the urban areas and Hyderabad were the main reasons for achieving revenue targets. The policies TS-iPASS and promotion of the establishment of industrial hubs helped to boost the economy in the State in the last four years.
According to the official figures released by the State Finance department, Telangana is close to achieve the second place by surpassing Uttar Pradesh in the revenue collections. Telangana registered nine per cent of GSDP in the SOTR. While, Uttar Pradesh posted 9.3 per cent of GSDP. Goa reported 11.3 per cent.
Under the SOTR category, officials said that the substantial increase in the realty business and vehicle sales and registration gave a big boost to the State economy. The officials said that the VAT collections through liquor and fuel prices registering nearly 19 per cent revenue growth every year helped the State fill the coffers and meet the State financial requirements for the implementation of welfare and development programmes.
The transparency brought in the lease of mines generated more revenues in the non-tax revenue category. The State’s mining revenues are going to jump from Rs 3,170 crore in 2016-17 to Rs 3,500 crore in 2018-19, registering a 30 per cent increase. The new sand policy brought into force two years ago has curbed illegal mining. Officials said that the targets set by the government in the tax collections both in tax and non-tax will be achieved with constant efforts put by the departments concerned this year also.
