Telangana beats all Southern States

Telangana state has achieved first position among southern states in earning revenues. The T state clinched a record growth of net revenues in the first six months of this financial year.

The net revenue achievement for the first two quarters has been put at Rs 1935.30 crore as against Rs. 1475 Crores in 2015-2016 during the first six months, accounting a record growth of 31.21 percent.

State government claimed the corresponding growth rates of other southern states are far behind Telangana State. AP’ growth rate is 12.27 per cent, Karnataka’s 2.31 per cent Kerala’s 3.57 percent and Tamil Nadu achieved minus 2.63 percent.

As against an annual target fixed for the year 2016-2017 of Rs 4291.99 crore the achievement in the first six months is Rs. 1935.30 crore accounting for nearly 45 per cent of the target. The revenue is mainly on sales and purchase transactions of lands and buildings.

The government attributed a decisive leadership, feel good factor, confidence in governance, single window clearances, eases of doing business in real estate sector, development process in the state, progress in irrigation projects and adequate power supply without any cuts were the main reasons for achieving huge revenue growth this year.

Prospects of establishing new power projects, economic growth, rise in per-capital income and consequent purchase capacity of individuals, phenomenal growth rate in the revenue in the stamps and registration department and the announcement of new and smaller districts also contributed to the financial growth.