Hyderabad: After the decrease in COVID-19 cases and complete unlock, Telangana State’s revenues increased substantially. An increase in revenues started from April and continued in the month of May.
Compare to the revenue of last year, the State’s income has increased 67% in the first quarter from April to June.
According to the government officials, the state revenue in the first quarter is Rs. 24629 crore which is substantially more than the revenues of last year.
Like the last year, the lockdown and night curfew was imposed in the month of March, April, and May. In spite of that, the state’s revenue increased.
Income in the month of April was below expectation but it increased in the month of May.
The state earns its revenue from GST, stamps and registration, sales tax, excise duty and shares from the central government taxes and other revenues. The total revenue of the State is between Rs.10000 to 11000 crore.
The state revenue was Rs. 8054 crore at the end of April due to the second wave of COVID-19. The total income in the month of May was Rs. 6364 crore.
Since the lockdown was completely lifted in the month of June, revenue shot up to Rs. 10222 crores. The state treasury earned Rs. 24629 crore in the first quarter from April to June. This amount is 14% of the state’s total budget.