Crime Today News
Hyderabad: The Telangana government spent Rs 2,19,307 crore out of the estimated Rs 2,77,690 crore budget for the financial year 2023-24, achieving 79 percent of the projected expenditure, according to the Comptroller and Auditor General (CAG) report.
Deputy chief minister Bhatti Vikramarka tabled the CAG report on finance and appropriation accounts in the Legislative Assembly on Thursday, March 27.
As per the report, the state government spent an additional Rs 1,11,477 crore beyond the approved budget, marking a 33 percent increase. The total expenditure accounted for 15 percent of the Gross State Domestic Product (GSDP).
The report also highlighted that the government borrowed Rs 10,156 crore through ways and means advances and took overdrafts amounting to Rs 35,425 crore over 145 days.
For the financial year 2023-24, the state government spent Rs 24,347 crore on interest payments and Rs 26,981 crore on salaries. Tax revenues contributed 61.83 percent of the state’s total income.
With a revenue surplus of Rs 779 crore, 45 percent of revenues were allocated to salaries, pensions, and interest payments. The Telangana government also received Rs 9,934 crore in grants from the Centre during the financial year.
By the end of 2023-24, the state’s total outstanding loans stood at Rs 4,03,664 crore, equivalent to 27 percent of GSDP, while government-backed loan guarantees amounted to Rs 2,20,607 crore. In the previous financial year (2022-23), Telangana took loans amounting to Rs 53,144 crore.
The capital expenditure for 2023-24 was Rs 43,918 crore. Additionally, Rs 76,773 crore was allocated to local bodies and other institutions, reflecting an 11 percent increase compared to the previous year.
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