Telangana no.1 in State-owned tax revenues

Hyderabad: Telangana stood first in the State-owned Tax Revenues (SOTR) in the country with 11.52 per cent growth, followed by Odisha, Jharkhand and UP between 2015- 2021. The State also achieved the highest annual average growth in GSDP in the South, Finance Minister T Harish claimed while releasing a report on the State finances here on Monday.

Addressing the press, he said even in adverse conditions after the State was hit by Covid, Telangana performed better in many sectors. While India experienced a negative rate of growth of GDP (-3 per cent) in 2020-21 due to the pandemic, the State achieved positive growth.

"Telangana is top in the country in the SOTR with an increase of 90 per cent in the last six years. The State has achieved Rs 66,648 crore in 2020-21.

Odisha is second with a growth rate of 9.74 per cent. The State had also recorded 120 per cent jump in IT exports over the last six years," Rao explained.

The Minister said the State also recorded a significant increase in terms of per capita income of Rs 237,632, which is 1.84 times that of the country. The State has third highest per capita income in the country. In 2014 Telangana was given 10th rank in terms of per capita income.

"The State's per capita income has almost doubled in six years, while that of the country grew by 48.7 per cent," he said, claiming Telangana had achieved the highest average growth in per capita income amongst all Southern States, at 11.5 per cent.

Harish explained that the borrowings by the government were below the national average and within the limits of Fiscal Responsibility and Budget Management (FRBM). Telangana occupied 15th position in the total outstanding liabilities with 22.83 per cent of the State GSDP, he added.