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Telangana No.1 In Growth Rate: CAG

By:  Tupaki Desk   |   26 Jun 2018 4:28 AM GMT
Telangana No.1 In Growth Rate: CAG
Telangana has convincingly defeated other states to emerge as No.1 in the country when it comes to growth rate in the State Own Tax Revenues (SOTR) Category.

SOTR means income generated through Taxes and Fees levied by the State Government. Departments such as Commercial Tax, Excise, Registration & Stamps will be collecting these taxes.

As per the Comptroller and Auditor General (CAG) reports, Average SOTR Growth Rate of Telangana stood at 17.2 percent for the past four years (2014-15 to 2017-18). Telangana Growth Rate was 13.7 percent in 2015-16, 21.1 percent in 2016-17 and 16.8 percent in 2017-18.

Other states in Top 5 - Haryana (14.2 percent), Maharashtra (13.9 percent), Odisha (12.4 percent) and West Bengal (10.3 percent). All the other states have a growth rate of under 10 percent.

Telangana CM KCR claimed financial policies, fiscal discipline and people's willingness to pay taxes regularly helped the state achieve highest growth rate. He feels better growth rate will eventually help the state government to implement welfare and development schemes effectively.