Hyderabad: For the first time after demonetisation, Telangana state has got a big relief. Centre has released 1813 Cr in the form of tax while RBI has released 1800 Cr from its quota to Telangana.
Banning of old currency had badly affected state’s treasury. Revenue of almost all departments had declined. Trades and businesses were greatly affected. State was heading towards financial crisis. Poor were worried for not getting cash as per their requirement. Their anger was increasing day by day.
However central government has released 997 Cr towards tax of current month, 447 Cr of tax deducted during previous month and 369 Cr from NABARD. Post demonetisation RBI has released 1800 Cr to the state. It must be recalled that state government had requested RBI to issue change of 5000 to the state.