The State Government of Telangana which is in red due to Corona conditions since last 9 months is trying to improve the financial condition.
The hike in the rates of petrol and diesel have already brought in some revenue to the State Government. After the introduction of Dharani, the registrations are also happening in a big way.
Chief Minister K. Chandrasekhar Rao had constituted a cabinet sub-committee on resource mobilisation in 2019, headed by finance minister T. Harish Rao, and comprising IT minister KT Rama Rao and other ministers, to recommend measures for generating additional revenue for the government. The committee had recommended sale of government lands as one of the means for this purpose.
The government wants to cash in on the realty boom and proposes to raise at least Rs 10,000 crore through sale of lands in the upcoming budget to cover up for financial losses suffered last year due to the pandemic and lockdown.
Minister for Finance Harish Rao is also gearing up to get ready for the Budget presentation in the Assembly for the year 2021-22.
The Government has sold a piece of land in Jubilee Hills for around Rs40 crore it is reported. This gave all the confidence to the Government that if fact can raise some revenues with the help of land sale.
