Telangana achieves remarkable 31% growth

telangana-growthThe TRS government has something to cheer about. The state has achieved a record growth of 31.21 percent in the net revenues during the first six months in the current financial year 2016-2017.

Briefing the growth reasons and giving the figures S Narsinga Rao, Principal Secretary to Chief Minister KCR, mentioned that, as against the net revenue achievement of Rs. 1475 crore in the financial year 2015-2016 during the first six months from April to September, this year during the same period the corresponding figures are Rs. 1935. 30 crore.

Telangana’s growth is the highest among southern states. The corresponding growth rates of other southern states are far behind Telangana State. AP’ growth rate is 12.27%, Karnataka’s 2.31%, Kerala’s 3.57% and Tamil Nadu’s is minus 2.63%.

According to a release by the government, the month wise growth rate and net revenue is: In April 2016, 27.92% (Rs 306 crores); in May 2016, 44% (Rs 370 crores); in June 2016, 40.20% (Rs 310 crores); in July 2016, 28.51% (Rs 310 crore); in August 2016, 31.51% (Rs 329. 16 crores) and in September 2016, 31.21% (Rs 310.15 crores). It is seen clearly that there has been a steady growth of revenue month after month. As against an annual target fixed for the year 2016-2017 of Rs 4291.99 crores the achievement in the first six months is Rs. 1935.30 crores accounting for nearly 45% of the target. The revenue is mainly on sales and purchase transactions of lands and buildings.

District (erstwhile) wise the figures for the first six months in seriatim are: Medak 47.94%, Adilabad 38.09%, Hyderabad 36.12%, Ranga Reddy 33.51%, Mahaboobnagar 32.30%, Warangal 27.25%, Karimnagar 22.62%, Nizamabad 21.74% and Nalgonda 6.99%. In all as many as 5, 76, 991 documents have been registered in all the districts put together as against 5, 22, 397 last year in the first six months, the release said.

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