Hyderabad: Revenue earnings in May through excise, stamps and registrations and commercial taxes provided some relief to the cash-starved state government, which is grappling with a fund-crunch after the Centre stopped loans to the state government in April.
According to data obtained from the finance department, the state government earned Rs 2,392 crore through the registration of agriculture and non-agriculture lands in April and May of which Rs 1,192 crore was generated in April and Rs 1,200 crore in May.
Commercial taxes contributed Rs 5,500 crore to the state exchequer in May while the excise department chipped in with Rs 1,100 crore through liquor sales last month.
The month’s GST collections stood at Rs 3,982 crore while the state government also received GST compensation of Rs 296 crore from the Centre. Another Rs 1,000 crore came in the form of the state’s share in central taxes and grants-in-aid from the Centre.
The state government is making efforts to raise Rs 7,500 crore to cater to this month’s Rythu Bandhu scheme as kharif season has already commenced. It is also making efforts to secure Centre’s nod for raising Rs 8,000 crore loans through auction of bonds this month. The government had sought permission to raise Rs 15,000 crore loans from April to June but the Centre denied raising Rs 3,000 crore in April and Rs 8,000 crore in May.
Consequently, the state government, which had earlier sought to raise Rs 4,000 crore in June, is now urging the Centre to permit it to raise Rs 8,000 crore this month as it was denied Rs 11,000 crore loans in April and May.
…
