HYDERABAD: The State government plans to raise Rs 6,572 crore under the Fiscal Responsibility and Budget Management Act, 2003 for the January-March 2023 quarter.
According to the Reserve Bank of India’s (RBI) indicative calendar of market borrowings by State governments / Union Territories for the quarter, Telangana is expected to raise Rs 6,572 crore. According to the calendar, Telangana will raise Rs 2,500 crore in January, Rs 2,000 crore in February and Rs 2,072 crore in March.
The actual volume borrowings and details of the States/UTs participating would be intimated two to three days prior to the actual auction day and would depend on the requirement of the State Governments/Union Territories, approval from the Union government under Article 293(3) of the Constitution of India as well as the market conditions, the RBI said.
GST collections register 11 per cent growth
Meanwhile, the Goods and Services Tax (GST) collections of the State registered an impressive 11 per cent growth in December 2022, when compared to the collections of December 2021. Telangana GST collections in December 2022 stood at Rs 4,178 crore. GST collections of the State were Rs 3,760 crore in December 2021, according to an official release issued by the Ministry of Finance on Sunday.