Telangana Leads Indian States in Own Tax Revenue: Economic Survey
Telangana's Own Tax Revenue for 2024-25 is projected to reach Rs 1,38,181 crore, marking a 24% increase over the revised estimate for 2023-24.
Telangana Leads Indian States in Own Tax Revenue: Economic Survey
Telangana Leads Indian States in Own Tax Revenue with 88%: Economic Survey
According to the Economic Survey 2024-25, Telangana outshone other Indian states with an impressive 88% of its total tax revenue coming from Own Tax Revenue (OTR) between April and November last year. This places Telangana ahead of Karnataka and Haryana, each at 86%. The survey, released on January 31, also highlighted Telangana's strong performance in irrigation, with 86% of the state’s gross cropped area covered by irrigation, ranking it among the top three states in this regard, behind only Punjab (98%) and Haryana (94%).
The survey revealed that, for 15 states, OTR accounted for more than half of their total tax receipts, with Telangana leading the way at 88%. This demonstrates the state’s growing fiscal health and economic autonomy.
In addition to fiscal highlights, the survey showcased Telangana’s support for women’s entrepreneurship, citing WE Hub (The Women Entrepreneurs Hub) in Hyderabad as a prime example. WE Hub has helped 6376 start-ups and SMEs, supporting 7828 entrepreneurs since its inception, and has successfully raised Rs 177 crore in funding. The Economic Survey emphasized the role of government support in fostering a thriving entrepreneurial ecosystem for women.
The survey also provided details of Telangana’s projected Own Tax Revenue, which is estimated to reach Rs 1,38,181 crore for 2024-25, marking a 24% increase over the revised estimate for 2023-24.
The Economic Survey also noted Telangana’s new MSME policy, aimed at boosting e-commerce penetration and encouraging participation on platforms like the ONDC and GeM portals, further enhancing the state’s business environment.
Economic Survey 2024-25: Key Highlights
- Indian economy to grow at 6.3-6.8% in FY26, down from 6.4% in FY25
- Investments must grow by 35% to achieve the required economic growth
- India's economic fundamentals remain strong with stable consumption and fiscal consolidation
- Risks to inflation due to global political and economic uncertainties
- Investments in infrastructure, manufacturing, and emerging technologies like AI, robotics, and biotechnology are crucial for future growth.
(With inputs from PTI)
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