NAVEENA GHANATE
GST collections in Telangana have shown an upward trend, however, a significant disparity has been noted between the growth rate of the Central share and the state’s share of GST revenue. Official sources said that while the Centre reported growth in its GST collections from Telangana, the state’s component has not witnessed a corresponding rise. Preliminary estimates suggest this gap stands at around 4%.
The Centre every month reveals figures is releasing the money which is going from the state. However, they are not telling how much money is being released at the state. Officials said, “We are growing around 8-9%. There is a difference of around 3-4% growth,” he said.
Officials pointed out that there is a gap in the growth rate of central and state components of GST collections. The state government has taken note of the issue and is currently conducting a detailed study to identify the reasons behind the discrepancy, sources said.
Officials said, “When the money going to the Centre has increased, the money due to the state should increase.
We are analysing to find out what commodities is happening to understand the problem’s specifics.”
“Though GST collections as a whole are growing, the uneven growth between the Centre and state shares needs to be examined thoroughly” an official remarked.
Officials believe that addressing this issue is crucial for streamlining financial planning. After the implementation of the Goods and Services Tax (GST) in 2017, Telangana has garnered approximately Rs 3.31 lakh crore in GST revenues.
In 2017-18, the state earned Rs 21,348 crore, which steadily increased to Rs 36,508 crore in 2018-19 and Rs 39,820 crore in 2019-20.
Despite a dip to Rs 36,346 crore in 2020-21 due to the pandemic, the revenues rebounded to Rs 45,081 crore in 2021-22 and climbed to Rs 51,831 crore in 2022-23. During fiscal 2023-24, the state reported Rs 59,942 crore in GST collections as per the latest data shared in the Lok Sabha.
