Thirteen Indian states allow lotteries, which generate tax revenue and attract lower-income groups in the hope of a life-changing win. Kerala leads in lottery revenues, followed by Bengal. However, profit margins are declining, and there are stories of winners facing challenges and losers clinging to hope. Despite the drawbacks, the lottery business continues to thrive due to the promise of wealth.
Telangana has achieved a record-high tax revenue collection of ₹13,703.92 crore in the month of February. The state’s overall revenue receipts, however, have not seen significant growth. With one month left in the financial year, the state has recovered from a revenue deficit to become revenue surplus.
The revised estimate for net tax revenue receipt in the current fiscal year, after devolution to states, will be at about the same level as the budget estimate, considering the likely shortfall in excise duty collections.
A Reserve Bank of India report on state finances advises against reverting to the old pension scheme, arguing it will limit growth and add to fiscal burden. The report suggests that states should avoid providing non-merit goods and services and subsidies. The report also recommends increasing tax revenue by states through measures like higher stamp duty and registration fees.
