05.10.22 Daily [Telangana] TSPSC Current Affairs

For the first time since its formation,Telanganais on course to record non-tax income, mostly due to sale of land parcels. Till July alone the state has earned Rs 7,432 crore, which is the highest evernon-tax incometill that month. Moreover, the state has already realised nearly 30% of its estimated Rs 25,421 crore total non-tax income in this fiscal.

The increase in non-tax income this year can be gauged from earlier collection till July since state formation: It stood at Rs 1,925 crore (2021-22); Rs 1,069 crore (2020-21); Rs 1,744 crore (2019-20); Rs 1,372 crore (2018-19); Rs 1,721 crore (2017-18); Rs 854 crore (2016-17); Rs 1,706 crore (2015-16); and Rs 689 crore (2014-15).

The difference between state tax and non-tax revenues is significant. Tax is levied on income earned by an individual or entity () as well as the value of transactions involving goods and Services (Indirect Tax). Non-tax revenue, on the other hand, is mostly through charges against govt services.