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Telangana records 31 pc growth in net revenue collection in H1

Press Trust of India  |  Hyderabad 

government today said it has recorded 31.21 per cent growth in net revenue collection during the first half of the year due to factors like good governance and ease of doing business in the real estate sector.

"As against the net revenue achievement of Rs 1,475 crore in the fiscal 2015-2016 during the first six months from April to September, this year during the same period the corresponding figure is Rs 1,935.30 crore," S Narsinga Rao, Principal Secretary to the Chief Minister, was quoted as saying in an official release.

"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 4,291.99 crore, the achievement in the first six months is Rs 1,935.30 crore accounting for nearly 45 per cent of the target," he added.

"The revenue is mainly on sales and purchase transactions of lands and buildings," it said.

The corresponding growth rates of other southern states are far behind Telangana, it claimed.

As per the release, the growth rate of Andhra Pradesh is 12.27 per cent, Karnataka's is 2.31 per cent, while it is 3.57 per cent for Kerala.

Tamil Nadu's growth rate is minus 2.63 per cent, it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 14 2016. 21:13 IST