Chief Minister K. Chandrashekhar Rao said that the progressive fiscal policies, fiscal discipline, the commitment of the people in paying taxes to the government, resulted in the Telangana state achieving the highest average growth rate.
The CM said that despite the effects of demonetization and GST on the finances of the state the Telangana could achieve stable growth rate.
The CM also said that the growth rate will also help the government in the better implementation of development and welfare programmes in the state.
In the official website of the Comptroller and Auditor General, Government of India, it has been mentioned that during the preceding four financial years the average growth rate in the state own tax revenues, Telangana has registered the highest growth rate when compared to all other states in India and stood first among all the states.
The Comptroller and Auditor General has declared in the website that with 17.2 % average growth rate in the state own tax revenue, Telangana stands first compared to all other states. The CAG has given the details of the tax revenues of all the states from June 2014 to May 2018.
In all during the past four financial years while Telangana stands at 17.2% average growth rate in the first position, Haryana with 14.2%, Maharashtra with 13.9%, Odisha with 12.4%, West Bengal with 10.3% stand next. The rest of the states achieved below 10% growth rate.
The Telangana State growth rate during 2015-16 financial year is 13.7%, in 2016-17 21.1% and 2017-18 it is 16.8%.
