HYDERABAD: While Telangana had more than Rs 5,000 crore in its kitty thanks to various tax receipts in April 2019, the state has about Rs 8,000 crore pooled from various sources, including loans, in this month. The state otherwise did not have any substantial revenues, expect from the sale of petrol which got it Rs 550 crore.
According to sources, the government has about Rs 1,000 crore deposits of various departments in banks. Some time back, the government had sought information from the departments on their finances when it had decided to auction bonds at the RBI.
The government has earned Rs 4,000 crore through bonds and another Rs 3,000 crore was accrued from the Centre under various categories. All this totals Rs 8,000 crore, including Rs 1,000 crore as deposits. “We are sure of managing the finance situation now. We will be able to do the required payments as well,” said an official.
Telangana State Planning Board vice-chairman B Vinod Kumar said the rural economy is very strong. The state government is purchasing all the paddy and other important produce. “We have many irrigation projects going on. Cement industry and construction related works will go on as per schedule to keep the economy going,” he told TOI.
According to him, after the major part of the lockdown is lifted, Telangana will have a quick economic recovery in comparison to other states.
The state requires Rs 1,700 crore to Rs 2,000 crore towards salaries and other payments for government employees and Rs 830 crore for Aasara pension. About Rs 1,200 crore is needed for the government to meet special support extended to all the ration card holders during the Covid-19 crisis.
According to sources, the government has about Rs 1,000 crore deposits of various departments in banks. Some time back, the government had sought information from the departments on their finances when it had decided to auction bonds at the RBI.
The government has earned Rs 4,000 crore through bonds and another Rs 3,000 crore was accrued from the Centre under various categories. All this totals Rs 8,000 crore, including Rs 1,000 crore as deposits. “We are sure of managing the finance situation now. We will be able to do the required payments as well,” said an official.
Telangana State Planning Board vice-chairman B Vinod Kumar said the rural economy is very strong. The state government is purchasing all the paddy and other important produce. “We have many irrigation projects going on. Cement industry and construction related works will go on as per schedule to keep the economy going,” he told TOI.
According to him, after the major part of the lockdown is lifted, Telangana will have a quick economic recovery in comparison to other states.
The state requires Rs 1,700 crore to Rs 2,000 crore towards salaries and other payments for government employees and Rs 830 crore for Aasara pension. About Rs 1,200 crore is needed for the government to meet special support extended to all the ration card holders during the Covid-19 crisis.
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