Title: Telugu States See Varied Rise in Central Tax Share for 2024-25
The Union Budget Estimates for 2024-25 reveal a significant increase in the share of Central taxes and duties allocated to the Telugu states, albeit with varying impacts on Andhra Pradesh and Telangana.
Andhra Pradesh’s share has surged by nearly 13 percent from the previous fiscal year, amounting to Rs 50,474.64 crore, an increase of Rs 5,775.65 crore. This allocation represents 4.047 percent of the total central taxes and duties, totaling Rs 12,47,211.28 crore.
Meanwhile, Telangana’s share has seen a marginal rise, with an allocation of Rs 26,216.38 crore, up by approximately Rs 3,000 crore compared to the previous year’s allocation of Rs 23,216.52 crore. Telangana’s share constitutes 2.102 percent of the overall allocation for states and Union Territories.
A breakdown of Andhra Pradesh’s allocation includes Rs 15,156.93 crore for corporate tax, Rs 17,455.93 crore for income tax, Rs 15,079.39 crore for Central GST, Rs 2,228.46 crore for customs, Rs 469.73 crore for union excise duty, and Rs 82.96 crore for other taxes and duties.
Telangana’s allocation details Rs 7,872.25 crore for corporate tax, Rs 9,066.56 crore for income tax, Rs 7,832.19 crore for Central GST, Rs 1,157.45 crore for customs, Rs 2,443.98 crore for union excise duty, and Rs 43.09 crore for other taxes and duties.
Furthermore, the Union Budget earmarks Rs 1,600 crore for the Singareni Collieries Company Limited (SCCL), with Rs 1,442.50 crore sourced from internal resources. SCCL, a joint venture between the Telangana government and the Centre, receives significant support with equity contributions of 51 percent and 49 percent, respectively.
Additionally, an allocation of Rs 620 crore has been allocated for Rashtriya Ispat Nigam Limited (RINL), which manages the Visakhapatnam Steel Plant. This figure represents a decrease from the previous year’s revised estimate of Rs 683 crore. Similarly, the allocation for Visakhapatnam Port Trust has reduced to Rs 150 crore from Rs 276 crore.
The budget allocations underscore significant financial support and strategic investments in key public sector enterprises vital to the economic landscape of the Telugu states.
