Hyderabad: Telangana has topped the country in growth in the state’s own tax revenue (OTR) collection, according a report released by the Comptroller and Auditor General of India (CAG) on Monday.
The CAG released the figures for the financial years from June 2014 to May 2018. Data showed the average growth rate in OTR in the state was 17.2 per cent, the highest nationwide.
The tax revenue growth rate slipped from 21.1 per cent in 2017-18 to 16.8 per cent in 2017-18, which officials attributed to demonetisation and GST.
Haryana followed TS with 14.2 per cent, Maharashtra 13.9 per cent, Odisha 12.4 per cent and West Bengal came fifth with 10.3 per cent growth in own tax revenues. The rest of the states achieved below 10 per cent growth rate in OTR. The state’s OTR growth rate during 2015-16 was 13.7 per cent, 21.1 per cent in 2016-17 and in 2017-18 16.8 per cent.
Chief Minister K. Chandrasekhar Rao expressed happiness over the CAG report. Mr Rao said that the progressive financial policies, fiscal discipline, the commitment of the people in paying taxes to the government, resulted in the the state achieving the highest average growth rate.