Hyderabad, February 6
The Telangana State share in the annual Central tax revenue was increased by the Central Government. It has allotted Rs 1,700 crore additionally for 2017-18 financial year than previous year.
Funds will be allotted to states under share from central taxes for implementation of central schemes, 14th financial committee funds, development grants for underdeveloped districts and under disaster management funds.
Adding all these funds, the Centre has allotted Rs 25,675 crores to Telangana in the recent budget. 42 per cent of the Central tax revenue will be distributed to the states.
It was estimated that the Centre will get Rs 6.74 lakh crore income through taxes in next year. Of this amount, the Centre fixed Telangana share at Rs 16,505 crore.
Initially the Centre allotted Rs 13,900 cores to Telangana in 2016-17 budget. Later it released Rs 900 crores additionally due to increase in tax collection.
Rs 6,000 crores was released in 2016-17 to implement central government schemes and proposals were made allotting Rs 6,600 crores for the next year.
Rs 1,718 core was allotted to municipalities and panchayats, Rs 302 crore for national disaster fund, and Rs 450 crore for special financial aid to underdeveloped districts.
During his three-day visit to national capital, Chief Minister K Chandrashekar Rao will meet Prime Minister Narendra Modi and Central Finance Minister and will submit a letter requesting to increase the central funds to the State. State finance ministry officials are preparing proposals in this regard.