As the nation's economic powerhouse, telangana is now operating at peak speed. The State is at the top due to its pro-development policies, with its inhabitants' per capita income and NSDP (net state domestic product) being higher than those of their counterparts in all other States.

According to the most recent information provided to the parliament by the federal Finance Ministry and the Ministry of Programme Implementation, Telangana's per capita NSDP at current prices in 2022–2023 was Rs. 3,08,732 lakh, followed by karnataka with Rs. 3,01,673 and haryana with Rs. 2,96,685. Telangana's per capita NSDP has increased significantly over the past six fiscal years, rising by 72% from Rs. 1,79,358 in 2017–18 to Rs. 3,08,732 in 2022–23. The rise would be a startling 151% higher than the per capita NSDP of Rs. 1,24,104 in 2014–15.
In addition, Telangana's per capita income increased dramatically, jumping from Rs. 1.72 lakh in 2014–15 to Rs. 3.12 lakh in 2022–23, an increase of 81%. As a result, the ordinary telangana resident not only has the highest income in the nation but also contributes the most to its economy. telangana, the newest state in India, has outperformed other significant states like Gujarat, Kerala, karnataka, Maharashtra, and tamil Nadu in terms of both key economic indicators.

The statistics from the Centre, however, also supported Telangana's claim that, although being a significant economic contributor to India, the State was receiving less in terms of tax devolution. The amount of money sent to the state over the past five fiscal years has increased by a negligible 6%, from Rs. 18,560.88 crore in 2018–19 to Rs. 19,668.15 crore in 2022–23. The country's entire tax devolutions grew throughout this time, rising by 24.5 percent, from Rs. 7,61,454 crore in 2018–19 to Rs. 9,48,405 crore in 2022–23.

State Finance authorities claim that since the Centre did not raise taxes on key income streams during the past five years, tax devolutions to the State have stayed steady. The Centre's overall revenue was nonetheless raised by the cessess from 10% to 20%, which significantly reduced the amount of tax devolutions that the States were able to obtain. According to an official, "While States have a rightful share of 41% in overall national revenue, the Centre is actually devolving only about 29.6% through increasing cesses."
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SIBY JEYYA

13/08/2023 08:08 AM