Sources have revealed that Telangana is moving ahead of other states in achieving targets set in tax collections. The state has registered 27.45 per cent revenue growth in the first two months (April and May) of the 2016-17 fiscal years as against the same period in the last year. Â
The officials have informed the CM KCR that Rs 7,687 crore revenue has been generated in two months as against Rs 6.031 crore last year from the Commercial Taxes, Excise, Stamps and Registration, Sales, Transport and Mining departments. Â
The officials have also stated that Stamps and Registration department registered 64% more revenue following the revival of the realty trade in the state and excise revenue has been increased by 12%, luxury taxes gone up to 36% and sales taxes has increased by 17%.
It is stated that the steep growth in revenues projected the estimations that the total state owned revenues would be increased by Rs 11,500 crore this year alone and the Chief Minister has said that the fresh growth trend denoted that Telangana has achieved the highest revenue growth when compared to other states
