Telangana sees spike in tax revenue in last 3 months
HYDERABAD : There has been a significant increase in tax collection over the last three months in the state since the Congress formed the government.
According to sources, the total tax collections in February this year amounted to Rs 13,703.92 crore. The average monthly tax collection over the last 11 months of the financial year 2023–24 was Rs 11,286 crore.
However, tax collection in February 2024 was Rs 2,400 crore more than the average monthly collection over the last 11 months.
“The state is gradually recovering from the 10 years of destruction under the BRS rule and is improving its revenues,” sources in the government said.
The real estate sector is also showing steady progress, the sources claimed. Income through stamps and registrations was Rs 1,300 crore in December 2023, and Rs 1,044 crore in January 2024. In February 2024, the income through stamps and registrations was Rs 1,282 crore.
The GST revenue was Rs 4,100 crore in December 2023, Rs 3,843 crore in January and Rs 4,446 crore in February.
There was a 13 percent growth in tax revenues in 2023–24 compared to the revenue in 2022–23. The total tax revenue in December 2023 was Rs 12,609 crore. In January 2024, tax revenue stood at Rs 10,748 crore, and in February 2024, it reached Rs 13,703 crore, the sources added.