The State’s overall revenue receipts during the just-concluded financial year 2023-24 stood at ₹1.69 lakh crore, just 78.08% of the projected ₹2.16 lakh crore.
According to preliminary estimates, the tax revenue was ₹1.35 lakh crore, more than 10% lower than the projected ₹1.52 lakh crore. The overall revenue included borrowings and other liabilities to the tune of ₹49,440 crore, almost ₹11,000 crore higher than ₹38,234 crore of the budget estimates for the financial year.
The fall in overall revenue receipts and tax receipts during the fiscal proved Deputy Chief Minister (Finance Minister) Mallu Bhatti Vikramarka’s assertion that the previous BRS government had inflated revenues and the overall receipts could fall by close to ₹70,000 crore by the end of the fiscal. The quantum was, however, lesser at ₹49,000 crore, according to the provisional figures submitted to the Comptroller and Auditor General of India.
