The ongoing currency ban has hit the Telangana State in a huge way thereby destroying all the plans and dreams of KCR for his State.
On one side, the T-state is lacking funds to run the started irrigation projects and welfare projects. Now this demonetization has been adding more fuel to the flame. The best revenue for the T-State is from its Real Estate. CM KCR has targeted to achieve 4300 crores of rupees from real Estate department in the form of registration in the academic year. Until October, the government has succeeded to get 2200 crores. But since the day of currency ban, it has only got 170 crores with the scarcity of currency. This loss will be continued to the year’s end as the people are still fighting with currency exchange.
The situation is same in all its income departments. So overall, the Telangana government will have a loss of almost 1500 crores of rupees due to the demonetization. So this is worrying the CM KCR and other higher officials of T-government. The ministers of Telangana are keen to seek help from the center to recover some losses which are occurring with this currency ban.