Telangana’s September GST slump raises questions about the State’s fiscal resilience to natural and policy-driven shocks

By Dr Neeraj Kumar, Dr Maya K

In September 2025, Telangana recorded a 5 per cent decline in Goods and Services Tax (GST) collection compared to the same month the previous year. This dip stands out because, during the same period, India’s overall GST collection grew by nearly 7 per cent. Apart from Telangana, only a few States — Himachal Pradesh (-4 per cent), Delhi (-1 per cent), and Manipur (-1 per cent) — reported a fall in revenue.

However, the fall in Telangana’s GST revenue is significant not just as a statistical fluctuation but as an economic signal. According to the Comptroller and Auditor General (C&AG) report for the 2023-24 annual accounts, nearly 80 p

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