<p>The Telangana government has estimated a revenue loss of Rs 52,750 crore in the current financial year due to the Covid-19 pandemic forced lockdown and other related circumstances.</p>.<p>Chief Minister Chandrashekhar Rao held a mid-term review of the 2020-2021 state budget on Saturday, where the finance department officials suggested alterations, and amendments to the budget in view of the severe revenue deficit situation.</p>.<p>CM Rao instructed officials to fix priorities accordingly and prepare a financial management plan, since “there will be a shortfall of Rs 52,750 crore in the state’s overall income.”</p>.<p>Explaining the state’s financial condition arising because of the pandemic, officials said that the government had received Rs 39,608 crore revenue for the seven months (April to October) of 2019-20 through taxes and other non-tax resources.</p>.<p>"Till October this year, the state received only 33,704 crore. The 2020-2021 budget proposals were made estimating that the state’s revenue growth rate would be 15 per cent. But to the contrary, due to Covid-19, the revenues fell compared to last year,” the officials said, according to a press statement from the CMO.</p>.<p>The estimated revenue in 2020-2021 through taxes and non-tax resources was Rs 1,15,900 crore and the budget proposals were made accordingly. But latest estimates show the probability at only Rs 68,781 crore. With this, the state’s own income will be reduced by Rs 47,119 crore.</p>.<p>The officials claimed that the money received under the state government’s share in the central taxes and through the centrally sponsored and assisted schemes, has also reduced considerably this year.</p>.<p><strong>“No flood assistance from the centre”</strong></p>.<p>Finance officials informed Rao that “so far not even a paisa is received from the centre” towards the rehabilitation of the victims of the recent rains and floods in the state, especially in Hyderabad city.</p>.<p>The Rao government estimated a loss of Rs 5,000 crore. The CM, on October 15, wrote to PM Narendra Modi requesting Rs 1,350 crore as immediate relief. A central team subsequently visited the state and assessed the damages.</p>.<p>“But as on date, not even a single rupee is released,” the officials told CM.</p>.<p>"The centre has once again proved that it makes empty promises and does not take any action. It is highly regrettable that help has not been extended even when a city like Hyderabad has suffered heavy losses,” Rao, said according to a CMO release.</p>
<p>The Telangana government has estimated a revenue loss of Rs 52,750 crore in the current financial year due to the Covid-19 pandemic forced lockdown and other related circumstances.</p>.<p>Chief Minister Chandrashekhar Rao held a mid-term review of the 2020-2021 state budget on Saturday, where the finance department officials suggested alterations, and amendments to the budget in view of the severe revenue deficit situation.</p>.<p>CM Rao instructed officials to fix priorities accordingly and prepare a financial management plan, since “there will be a shortfall of Rs 52,750 crore in the state’s overall income.”</p>.<p>Explaining the state’s financial condition arising because of the pandemic, officials said that the government had received Rs 39,608 crore revenue for the seven months (April to October) of 2019-20 through taxes and other non-tax resources.</p>.<p>"Till October this year, the state received only 33,704 crore. The 2020-2021 budget proposals were made estimating that the state’s revenue growth rate would be 15 per cent. But to the contrary, due to Covid-19, the revenues fell compared to last year,” the officials said, according to a press statement from the CMO.</p>.<p>The estimated revenue in 2020-2021 through taxes and non-tax resources was Rs 1,15,900 crore and the budget proposals were made accordingly. But latest estimates show the probability at only Rs 68,781 crore. With this, the state’s own income will be reduced by Rs 47,119 crore.</p>.<p>The officials claimed that the money received under the state government’s share in the central taxes and through the centrally sponsored and assisted schemes, has also reduced considerably this year.</p>.<p><strong>“No flood assistance from the centre”</strong></p>.<p>Finance officials informed Rao that “so far not even a paisa is received from the centre” towards the rehabilitation of the victims of the recent rains and floods in the state, especially in Hyderabad city.</p>.<p>The Rao government estimated a loss of Rs 5,000 crore. The CM, on October 15, wrote to PM Narendra Modi requesting Rs 1,350 crore as immediate relief. A central team subsequently visited the state and assessed the damages.</p>.<p>“But as on date, not even a single rupee is released,” the officials told CM.</p>.<p>"The centre has once again proved that it makes empty promises and does not take any action. It is highly regrettable that help has not been extended even when a city like Hyderabad has suffered heavy losses,” Rao, said according to a CMO release.</p>
