Hyderabad: Telangana ranked first in this country with the highest average annual growth rate (AAGR) of the country’s own income in accordance with the latest data on the economies of countries from the Ministry of Statistics and programs.
At present, the annual revenue of the state itself is Rs 66,688 Crore and a growth rate of 11.52% since its establishment in 2014.
Odisha is the second with its own income results at 9.74%, the third Jharkhand (8.6%), rose fourth ( 8.6%) and AP instantly fifth (8.38%).
Among greater countries, the last Gujarat was 2.59%.
Announcing the latest estimates of the Workers Union Government, State Minister of Finance Harish Rao stated on Monday that Telangana had seen a 90% increase in the collection of state revenues from 2014-15-21.
Telangana’s own income during the formation year (2014-15) is Rs 35,146 Crore.
“Many policy-oriented development, fiscal steps, and welfare schemes that increase livelihoods, especially in the agricultural sector, are the causes of steady state growth in increasing their own income,” he said.
The Minister of Finance said that the superlative work of Telangana can be measured by state domestic product (GSDP) and income growth rates, which are the two main indicators of state financial performance.
Telangana’s growth rate followed Karnataka in 2017-18 and it had surpassed neighbors since then.
“Telangana has achieved the largest annual average growth in GSDP among all southern states at 11.7% post-2014-15,” he added.
Harish Rao also rejected criticism that the country was burdened with debt.
“We are one of the few countries with loan loads far below the limits permitted 25% imposed by fiscal responsibility and budget management law (FRBM).
We are at 22.83%,” the Minister of Finance said.
But many other major countries have crossed this limit, including Andhra Pradesh, and has received loans of more than 30%, exceeding the Frbm ceiling, he added.