KCR Feels Demonetization Pain More Than Expected

Telangana Government which earlier expected the losses due to Demonetization at 3000 Crore, now says it has incurred a loss of a whopping 10000 Crore. The government sources say that the impact of demonetization on the state revenues is more than what was anticipated.

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While the Demonetization was announced, the center had indicated about helping the states to cover the losses but there is no word about that since then. The government is not happy since the growth achieved in the first half of the fiscal year by all the major revenue-earning departments was negated in the second half, because of the demonetization announced in November.

Telangana government is presenting the budget for the next year on 13th of this month. It has to be seen if the government notifies about these losses in the budget and how they cover these losses with center giving no assurance.