Telangana feels pinch of economic slowdown, KCR asks departments to cut expenditure
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Hyderabad, Dec. 8 -- After witnessing high growth rate in its GDP over the last few years, Telangana's economy is seemingly in a precarious situation this financial year. The situation has also forced Chief Minister K. Chandrashekhar Rao (KCR) to write to union finance minister Nirmala Sitharaman, to give the state more Goods and Services Tax (GST) compensation, given the shortfall in collections this financial year.
In his letter to Sitharaman, KCR said that according to the union budget 2019-20, the tax devolution to Telangana is Rs.19,719 crore, out of which the state has received only Rs.10,304 crore till November. KCR pointed out that Telangana had received Rs.16,451 crore in tax devolution in 2018-19, and had in fact received Rs.22...
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