Hyderabad

Telangana grapples with revenue shortfall, faces fiscal deficit concerns

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The fiscal year 2023-24 concluded with tax revenue falling short of the targets outlined in the budget.

Published Date – 12 April 2024, 07:21 PM


Telangana grapples with revenue shortfall, faces fiscal deficit concerns


Hyderabad: The State government is confronted with a substantial revenue shortfall during the financial year of 2023-24. In a bid to mitigate the financial strain, the authorities have directed all departments to ramp up revenue collection efforts significantly in the new financial year.

The fiscal year 2023-24 concluded with tax revenue falling short of the targets outlined in the budget. According to Finance department sources, Telangana secured Rs 2.12 lakh crore against budget estimates of Rs 2.59 lakh crore, realising only 80 per cent of its total receipts for the financial year of 2023-24. Through tax receipts estimated at Rs 1.52 lakh crore, the officials could mop up Rs 1.3 lakh crore at the end of the fiscal. The final statistics are expected to be released after auditing in May-June.

Despite increased usage of vehicles and alcohol consumption in the months leading up to the elections, tax revenue from fuel and alcohol sales failed to surge as expected. The government projected a VAT collection of Rs 39,500 crore for the fiscal year of 2023-24, but only Rs 29,985 crore was realised, leaving a substantial deficit of Rs 9,515 crore.

Further, revenue targets for GST and registrations were not met, with the government attributing the shortfall to over estimation by the previous administration. There has been a marginal increase in GST collections and revenue through Stamps and Registrations over the previous financial year, but did not meet the budget estimates for the 2023-24 fiscal. Against budget estimates of Rs 50,942 crore, the State realised Rs 40,650 crore in GST collections for 2023-24. During the previous financial year of 2022-23, the GST collections were Rs 37,026 crore. Through the Stamp and Registrations, the government realised revenue of Rs 14,483 crore against target of Rs 18,500 crore.

While the State’s share in Central taxes met the set target, grants from the Central government witnessed a significant reduction, resulting in financial strain. Against budget estimate of Rs 14,528 crore, the State’s share in Central taxes achieved a little over Rs 15,000 crore. However, the Central grants caused a huge dent with nearly Rs 8,000 of an estimated Rs 41,259 crore released by the end of March.

As a result, Telangana’s fiscal deficit has ballooned to Rs 42,000 crore, necessitating additional borrowing to sustain welfare schemes and meet salary obligations. To address immediate funding gaps, the government has resorted to borrowing. With a recent loan acquisition of Rs 1,000 crore, Telangana’s market borrowings have shot up to around Rs 42,852 crore against the estimated Rs 38234 crore during the 2023-24 fiscal.

Hyderabad

BJP duped public by not creating 20 crore jobs promised during polls: Sridhar Babu

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Information Technology Minister D Sridhar Babu urged Congress workers to vigorously pursue victory in the Peddapalli Parliament constituency during the upcoming Lok Sabha elections.

Published Date – 12 April 2024, 07:06 PM


BJP duped public by not creating 20 crore jobs promised during polls: Sridhar Babu

MLA Vinod and Vivek felicitate minister Sridhar Babu during a meeting of the Congress conducted in Bellampalli on Friday  

Mancherial: Information Technology Minister D Sridhar Babu asked Congress workers to strive hard for the party victory from Peddapalli Parliament constituency in ensuing Lok Sabha polls.
Speaking at a party workers meeting in Bellampalli town on Friday, Sridhar Babu said the BJP and the BRS were trying to inconvenience the Congress-led state government.

He said efforts were being made to resolve major challenges of the public within three months after formation of the government. He lauded local MLA Vinod for striving hard to develop Bellampalli segment through national rural employment guarantee scheme and special development fund.

The minister recalled that G Venkata Swamy, father of Chennur MLA Dr G Vivek and Vinod had contributed greatly for the growth of this region. He said that Vivek had requested Chief Minister A Revanth Reddy to ensure better drinking water to Bellampalli town with the help of Sripada Sagar Yellampalli project.

He alleged that the BJP duped the public by not keeping its promise to provide 20 crore jobs if voted to power. The union government was attempting to sell the public sector undertaking LIC to private firms, while privatizing the state-owned coal giant SCCL.

He asked people to give a thought before casting votes for BJP candidates.

The Congress candidate fom Peddapalli, Vamshi said that he entered politics with a motto to serve people. Chennur MLA Vivek, Vinod, former government whip N Odelu, INTUC leader Venkat Rao and many others were present.

Hyderabad

BRS demands Rs 500 per quintal bonus for paddy farmers

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BRS MLA Palla Rajeshwar Reddy said the delay in paddy procurement by the State govt was forcing farmers to sell their produce to private traders in open market for just Rs 1,500-1,700 per quintal

Published Date – 12 April 2024, 06:51 PM


BRS demands Rs 500 per quintal bonus for paddy farmers

Palla Rajeshwar Reddy

Hyderabad: The BRS accused the Congress government of failing to ensure Minimum Support Price (MSP) to paddy farmers during the ongoing procurement across the State. The party legislators stated that farmers are being forced to sell their produce for Rs 700 less than MSP of around Rs 2,203 per quintal paddy, rather than giving them Rs 500 bonus promised by the Congress during the Assembly elections.

Speaking to the media at Telangana Bhavan here on Friday, BRS MLA Palla Rajeshwar Reddy said the delay in paddy procurement by the State government was forcing farmers to sell their produce to private traders in open market for just Rs 1,500-1,700 per quintal against the MSP of Rs 2,203 for A-grade varieties and Rs 2,183 for common varieties. They said while the State government is unable to ensure MSP for farmers at the paddy procurement centres, the middlemen are dictating terms in the market yards.

“During our visit in Jangaon district, we found that around 4,000 tonnes of paddy arrived at the market yards and procurement centres, but only 440 tonnes of paddy was purchased from the farmers through 193 procurement centres till date. As a result, the farmers are being forced to sell their produce at lesser prices to private traders and middlemen,” he said. He stated that even after the Chief Minister’s Office intervened, farmers received an additional Rs 30 per quintal.

Former legislators Gandra Venkataramana Reddy and M Srinivas Reddy said the farmers lost faith in the Congress government which deceived them in implementing crop loan waiver and disbursement of Rythu Bandhu financial assistance. They stated that the farmers were suffering from lack of support price on one side and withering/loss of crops on the other. They demanded that the State government initiate immediate measures to safeguard the farmers and their interests, by ensuring MSP for their produce and compensate for their losses.

Hyderabad

Congress claims only 63 farmers died, which included 33 suicides

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Addressing media persons, Congress Kisan Cell national vice president M Kodanda Reddy slammed the BJP and BRS for making irresponsible comments over drought in the State.

Published Date – 12 April 2024, 06:42 PM


Congress claims only 63 farmers died, which included 33 suicides

Congress Kisan Cell national vice president M Kodanda Reddy.

Hyderabad: Accusing the Bharat Rashtra Samithi (BRS) of indulging in what was termed as “false campaign” over farmers’ suicides in Telangana, Congress Kisan Cell national vice president M Kodanda Reddy said since Congress came to power 63 farmers had died and of these 33 had died by suicide.

The BRS claims that 209 farmers had died in the State in 100 days of Congress rule was fictious. Infact, when K Chandrashekhar Rao was the Chief Minister, many farmers had died by suicide and Congress MP Rahul Gandhi had consoled the bereaved families, he said here on Friday.

Addressing media persons, he slammed the BJP and BRS for making irresponsible comments over drought in the State. In the past, when severe drought had hit the State, the then Chief Minister YS Rajashekhara Reddy had submitted detailed report to the union government seeking assistance, he said.

In 2013, the UPA government had extended highest assistance to united Andhra Pradesh among all the States. Even now, Chief Minister A Revanth Reddy was monitoring the situation regularly and had issued specific instructions regarding drinking water and irrigation water supply, he said.

The BJP State president and union Tourism Minister G Kishan Reddy were trying to politicizing the issue. Cutting across party lines, all the political parties should prevail upon the union government to extend assistance to Telangane, he stressed.

Hyderabad

Tudumdebba demands Centre, State to curb belt shops in Adilabad

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Tudumdebba State working president Godam Ganesh, in a statement, regretted that the belt shops were ruining the lives of tribal youngsters who were getting addicted to alcohol like never before in rural parts of the district.

Published Date – 12 April 2024, 06:35 PM


Tudumdebba demands Centre, State to curb belt shops in Adilabad

Tudumdebba State working president Godam Ganesh, in a statement, regretted that the belt shops were ruining the lives of tribal youngsters who were getting addicted to alcohol like never before in rural parts of the district.

Adilabad: Members of Tudumdebba, a tribal rights organisation criticised the officials of Prohibition and Excise department for failing to curb belt shops or unauthorised outlets of liquor in rural parts. Tudumdebba State working president Godam Ganesh, in a statement, regretted that the belt shops were ruining the lives of tribal youngsters who were getting addicted to alcohol like never before in rural parts of the district. He bemoaned that the menace was claiming lives of many youngsters after being diagnosed with diseases.

The working president said that it was deplorable that neither district authorities nor officials of the prohibition and excise department were taking steps to curb the menace. He said that the inaction by the officials was raising eyebrows of many. He noted that the belt shops run in every nook and corner of rural parts were targeting the gullible tribal youngsters. Ganesh demanded both the Centre and State governments to immediately take steps to eradicate the menace and to protect the health of the public. He cautioned that the body would intensify the stir against the menace if the two governments failed to address it.

Hyderabad

Decline in land registrations hits revenue in Karimnagar

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Over the past two years, the Registrations Department, the second-largest revenue-generating wing for the state government, has encountered a notable decline in registrations within the former Karimnagar district.

Published Date – 12 April 2024, 06:25 PM


Decline in land registrations hits revenue in Karimnagar

Representational Image

Karimnagar: Registrations department, which is the second biggest wing that fetches revenue to the state government, is facing the scarcity of registrations during the last two years in the erstwhile Karimnagar district.

Besides post covid situations, assembly and parliament elections are said to be the reasons for the decline in land registrations. Though there is no problem for registrations during the time of covid in 2020, less number of registration were done in 2022, 2023 financial years. Compared to previous years statistics, there is a more than 20 percent decline in land registrations. Subsequently, the government suffered a loss of hundreds of crore.

For instance, on an average, about 40 registrations used to be done in Peddapalli sub-register office every day. Surprisingly, it has declined to 15 to 20. Besides a main registration office, 14 sub-registrar offices are there in the erstwhile Karimnagar district.

According to statistics, 14,234 land transactions were done in the financial year 2021-22 and the government got Rs 762.64 crore revenue. However, the number of transactions declined to 10,812 in 2022-23 and revenue Rs 423.02 crore. There is Rs 339.62 crore decline in income.

Similarly, transactions further declined in 2023-24. Government got Rs 262.06 crore through 6,700 registrations. There is Rs 160.96 crore revenue decline. When compared to 2021-22 financial year’s revenue, there is Rs 500 crore revenue decline. According to the registrations department source, people were not showing much interest in spending money on purchasing lands after covid pandemic. Moreover, realtors were also staying away from land transactions in the wake of elections.

A majority of the realtors have been associated with any of the political parties. It is not possible to carry more than Rs 50,000 if the model code of conduct was in force. People have to show accounts for the excess cash. Cash would be utilized for almost all land transactions since there would be a lot of difference between market value and open market rate of the land. So, it was not possible to show accounts to election authorities. So, a majority of realtors were staying away from land transactions.

Hyderabad

Aparna Garg assumes charges as Director General of IRIFM

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Prior to taking over charge, Aparna Garg has worked as Principal Financial Advisor, Rail Wheel Factory, Bengaluru, Divisional Railway Manager of Mysore.

Published Date – 12 April 2024, 06:08 PM


Aparna Garg assumes charges as Director General of IRIFM


Hyderabad: Aparna Garg, IRAS (Indian Railways Accounts Service) officer of Civil Services 1987 batch, has assumed the charge of Director General, Indian Railways Institute of Financial Management (IRIFM).

Prior to taking over charge, Aparna Garg has worked as Principal Financial Advisor, Rail Wheel Factory, Bengaluru, Divisional Railway Manager of Mysore and in various other capacities in Southern Railway, Western Railway and South-Western Railway spanning over a period of 35 years of service.

She is a Chevening Fellow and has done her Advanced Masters in Transport Economics from the University of Leads, United Kingdom. She also had training in Bocconi School of Management/Milan, INSEAD/Singapore and Indian School of Business/Hyderabad, a press release said.

Hyderabad

KTR predicts a hung Parliament, with BRS playing vital role in national politics

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KT Rama Rao, the working president of the BRS, stated that the party is poised to have a significant impact on national politics, particularly in light of the absence of a clear majority for any of the national alliance parties in the upcoming Lok Sabha elections.

Published Date – 12 April 2024, 05:41 PM


KTR predicts a hung Parliament, with BRS playing vital role in national politics


Hyderabad: BRS working president KT Rama Rao said the the party will play a vital role in national politics with none of the national alliance parties securing a majority in the ensuing Lok Sabha elections. He said neither the NDA alliance nor the INDIA alliance are poised to get complete majority and by winning significant number of MP seats in Telangana, the BRS will become a decisive force at the Centre.

“There will be a hung Parliament. Neither the NDA nor the INDIA alliance will achieve a clear-cut majority. If we win at least 10-12 number of seats, we will play a vital role in national politics,” he said, while addressing the party cadre meeting of Bhongir parliamentary constituency at Ibrahimpatnam on Friday.

Rama Rao slammed Prime Minister Narendra Modi for his utter failure to control the rising inflation that caused chaos in the lives of the people of the country. He pointed out that the LPG cylinder price skyrocketed from Rs 400 to Rs 1,200 under the BJP government. He said the Prime Minister and other BJP leaders leaders only chant the name of Lord Ram for votes, but made zero contribution for development of Telangana. He reminded that though former Chief Minister K Chandrashekhar Rao developed the Yadadri temple, he never misused it for political mileage.

“Narendra Modi did nothing for Telangana. Neither he did sanction a Navodaya school nor a medical college. He also refused to purchase 3.5 crore tonnes of paddy produced by farmers of Telangana, while his Cabinet Minster Piyush Goyal advised us to eat broken rice,” he recalled. He reminded that the BJP-led Central government took away five mandals of erstwhile Khammam district and IT Investment Region, besides denying national project status for Palamuru Rangareddy Lift Irrigation Scheme and Steel Plant at Bayyaram and other institutions promised under the Andhra Pradesh Reorganisation Act.

Dubbing Chief Minister A Revanth Reddy as a ‘Mic Veerudu’ for his rhetoric, the BRS working president said the former made false promises and cheated people of Telangana. He said the Chief Minister lacked basic skills to run the State which was efficiently developed under the K Chandrashekhar Rao government. He stated that due to inept administration of the Congress government, all sectors including real estate in the State got ruined.

“Revanth Reddy said that he was a synonym for real estate, but Cairnes went to Gujarat. We have no idea about the fate of Foxconn. We made all arrangements for establishment of the Pharma City, but Revanth Reddy stalled it. The real estate can grow only when there are industries or IT sector which can create demand for houses and office spaces,” he said.

Rama Rao predicted that the Congress government which cheated the voters with false promises, would scrap the free bus service scheme for women and other schemes after the Lok sabha elections. He stated that the free bus service scheme for women alone incurred loss of Rs 1,400 crore for the TSRTC and the government is now unable to handle it. He said if Revanth Reddy is the man he claims to be, he should deliver all the electoral promises before seeking votes from the people in the Lok Sabha elections.

Hyderabad

KCR to address public meeting in Sangareddy on April 16

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On April 16th, K Chandrashekhar Rao, the former Chief Minister and leader of the Bharata Rashtra Samithi (BRS), will commence his Lok Sabha election campaign with a public gathering in Sangared

Updated On – 12 April 2024, 05:31 PM


KCR to address public meeting in Sangareddy on April 16

Former Chief Minister K Chandrashekhar Rao will address public meeting near Sangaredy on March 16.

Sangareddy: Former Chief Minister and Bharata Rashtra Samithi (BRS) Supremo K Chandrashekhar Rao will kick start his Lok Sabha election campaign with a public meeting in Sangareddy on April 16.

Following the communication from Chandrashekhar Rao, Sangareddy MLA Chintha Prabhakar and Former Andole MLA Chanti Kranthi Kiran have inspected a location at Singur Cross road for the public meeting.

Since Andole falls under Zaheerabad Lok Sabha constituency and Sangareddy under Medak Lok Sabha constituency, the leaders were planning to mobilise a huge number of people from both the segments for the meeting.

The BRS Zaheerabad candidate Gali Anil Kumar and Medak candidate P Venkatrami Reddy hoped that Rao’s meeting would turn the election in their favour. Meanwhile, Former Minister T Harish Rao will visit Sangareddy on Saturday to ensure all the arrangements are made for the Former Chief Minister’s meeting.

Hyderabad

Cabinet berth race: Few BJP leaders trying to stall chances of seniors

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As the BJP aims for a third consecutive term in national governance, its state unit is embroiled in controversy as internal divisions surface.

Updated On – 12 April 2024, 05:11 PM


Cabinet berth race: Few BJP leaders trying to stall chances of seniors

As the BJP aims for a third consecutive term in national governance, its state unit is embroiled in controversy as internal divisions surface.

Hyderabad: As the BJP eyes a third straight term in power at the Centre, the state unit of the BJP finds itself in a controversy with internal differences coming to the fore to the extent that some of the leaders were trying to sabotage the winning chances of others just to ensure that they secure a berth in the union cabinet.

A special team sent by the Central leadership to observe the field level situation in Telangana was reported to have noticed that a few party candidates were working against official candidates from other constituencies. The national leadership was shocked to know that some of the party candidates and leaders were trying to defeat their own party candidates to stop them from getting cabinet berths.

Sources say with reports that the BJP was going to come to power at the centre with a huge margin this time, many of the party candidates from Telangana were hoping to get a cabinet berth, hence to check their rivals in the State they had started formulating strategies to defeat them. In fact, it came to party high command’s notice that wherever BJP candidates are strong, a few party leaders were helping the rival party candidates to defeat the BJP candidates.

It is learnt that the leaders hoping to secure a berth in the union Cabinet are making efforts to defeat senior party leaders as they stand a chance to be inducted in the cabinet in the event of BJP coming to power at the Centre.

Sources say the party high command has information that a few party leaders who were denied tickets had joined hands with the candidates who are looking for cabinet berths in ensuring the defeat of their party rivals. Party insiders say union Home Minister Amit Shah took serious note of the development in the State and is likely to summon leaders working against the party candidates.

Meanwhile, the internal discord in the State BJP unit is continuing with several leaders and functionaries not cooperating with the party State leadership and Lok Sabha candidates. The latest being the resignation of senior party leaders from Narayanpet district. K Ratanga Pandu Reddy, who contested as party candidate from Narayanpet assembly segment and Maktal assembly segment candidate Madireddy Jalandhar Reddy, along with district general secretary Raghuramaiah Goud resigned from the party on Thursday following dispute with BJP Mahabubnagar Lok Sabha candidate DK Aruna.

Even during assembly polls the party could not perform as per the expectations of the party high command due to internal differences among senior leaders. This time too a similar situation is prevailing in the State and the BJP leadership feels that if they do not act firmly the party would not achieve the goal of securing over 10 seats in the State.