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Tuesday, July 5, 2022

TS starts crediting salaries, pensions amidst cash crunch- Mrit News

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The State Government started crediting salaries to employees in various categories and paying pensioners from Wednesday amidst a tight financial situation.

The magnitude of salary or pension bill can be seen from the fact that the State had spent ₹3,271 crore on salaries and ₹1,468 crore on pensions in April, according to key monthly indicators. This is against ₹2,018 crore and ₹1,027 crore in the same month last fiscal.

The additional expenditure is said to be on account of payment of arrears to pensioners after pay revision, which started from January this year. Payment of arrears to employees is expected to start from this month.

Unlike April, when the State’s revenue receipts were pegged at ₹9,983 crore, revenue during May is said to be significantly higher due to hike effected by the government in liquor prices, and life tax on vehicles, among others.

Revenue from the Registration and Stamps department continued to be buoyant in the first two months, crossing the ₹2,500 crore mark. The government is expected to opt for ways and means advances in the coming days to meet its immediate financial requirements.

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