Transport sector in Telangana hits pandemic wall | Hyderabad | Sidnaz Blog

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HYDERABAD: Transport sector, like every other sector, was hit by the pandemic-induced economic downturn in the state. For the first time, the sector’s income fell sharply from year to year, registering a negative growth. When compared to the previous year, the income decreased by 8.17 per cent in 2020-21. This year, the transport department earned Rs 3,228 crore while in 2019-20, the income was Rs 3,515 crore.
Officials attribute the drop in income to the lockdown and work from home situation in many industries. “Though automobile sales are high, other services have taken a hit. We hope to return to a positive growth rate next year,” a top official said.

Life taxes, quarterly taxes, enforcement as well as fees and user charges are the main sources of revenue for the transport department.
The data available with TOI shows that the sector earned Rs 1,854 crore in the first year of Telangana’s creation (2014-15). The yearover-year growth rate of income ranged from 18 per cent to 23 per cent in the first three years after the formation of the state.
The highest growth rate of 23 per cent was registered during 2015-16 and 2016-17. From 2014-15 to 2015-16, the state saw a 20 per cent rise in income. Between 2016-17 and 2018-19 financial years, the growth rate was 23 and 19 per cent respectively.
The first signs of a declining trend in growth rate were seen between 2017 and 2018 when it stood at 8 per cent. Between the following fiscal years, the income growth rate fell below 1 per cent, eventually reaching a negative growth rate of 8 per cent in 2020-21.

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Author: sidnaz pro