Telangana's first quarter revenue receipts is 16.2% of estimates; 61% of ₹37,221 goes for interest payment, salaries and pensions
What are revenue receipts?
They are funds received by a government in the form of tax revenue, non-tax revenue, and grants-in-aid and contributions. Tax revenue sources are Goods and Service Tax; Stamps and Registration; Land Revenue; Sales Tax; State Excise Duties; State's share of Union taxes, and other taxes and duties. Non-tax revenue includes interest of loans given, dividends on investments.
The State's total receipts—including ₹20,266 crore borrowings—during the first quarter stood at ₹57,499 crore, 21.06% of the ₹2.84 lakh crore projected in the budget estimates.
What are total receipts?
Total receipts includes revenue receipts and capital receipts. The latter includes recovery of loans and advances, borrowings and other liabilities.
Tax revenue during in the first quarter was ₹35,721 crore, 20.38% of the ₹1.75 lakh crore projected for the fiscal while interest payments were pegged at ₹6,772 crore, 34.97% of the ₹19,369 crore projected for the fiscal indicating that the State will yet again struggle with interest payment at the end of the fiscal as it will be much higher than that of the budget estimates.
Earnings
On the earnings front, revenue through Goods and Services Tax stood at ₹12,622 crore against ₹59,074 crore of the budget estimates and that through Registration & Stamps was ₹3,712 crore, 19.45% of ₹19,087 crore of the fiscal. State Excise duties continue to be below expectations at ₹4,595 crore, 16.64% of the ₹27,623 crore of budget estimates and Sales Tax collections were a shade better at ₹8,466 crore, 22.6% of the ₹37,463 crore projected for the year.
Revenue through Grants in Aid and Contributions continued to bely expectations at ₹433 crore, just 1.9% of the ₹22,782 crore so also accrual through non tax revenue pegged at ₹1,066 crore, 3.37% of the budget estimates respectively at the end of the first quarter.
Expenditure
On the expenditure front, Salaries/wages consumed a major chunk with ₹11,608 crore, 34.97% of the ₹44,478 crore projected for the fiscal and payment of pensions accounted for ₹4,572 crore, 34.88% of the ₹13,109 crore of the budget estimates. Another major head under expenditure was subsidy, primarily on account of free power, which was pegged at ₹5,932 crore, 36.3% of ₹16,345 crore projected for the year.
Revenue deficit
The State's revenue deficit at the end of the first quarter stood at ₹10,582 crore against surplus of ₹2,738 crore projected in the budget estimates and fiscal deficit was at ₹20,266 crore, 37.52% of the ₹54,009 crore of the budget estimates for the year. The primary deficit was pegged at ₹13,493 crore, 38.95% of the ₹34,640 crore of the budget estimates.
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