Andhra Pradesh Sees Higher Revenues

[King_Kong]

Andhra Pradesh sees higher revenues

 

HYDERABAD: The finances of Andhra Pradesh are slowly looking up after business and industrial units started functioning from Vijayawada, Visakhapatnam and Tirupati. The shifting of business establishments to AP has been reflected in increased revenue from commercial taxes. The total value added tax (VAT) revenue, which was around Rs 2,000 crore from the 13 districts, witnessed a sharp increase in the month of May. 

In May, the VAT revenue reached Rs 2,230 crore, which is the highest for any month since bifurcation. The excise revenue also rose to Rs 143 crore in May as against Rs 117 crore in April. Thanks to increased real estate activity reported in all 13 districts, revenue from stamps and registration rose to Rs 231 crore in May. This was only Rs 136 crore in April, 2015. 

"Increase in land registrations has been reported in almost all districts. Guntur and Krishna districts, which come under the capital region, have reported the highest number of registrations," said revenue sources. Buoyed by the increase in revenue, the state government is now mulling to revise market rates of land in eight coastal districts and has asked the revenue department to prepare proposals to effect the same. 

However, revenue from the transport sector received a setback following the imposition of inter-state tax by both state governments. In May, the revenue from transport dropped to Rs 168 crore against Rs 275 crore in April. 

"AP's economy has reported signs of revival and major economic indicators are showing impressive growth. As against Rs 2,901 crore in April, the revenue in May was Rs 2,993 crore. Most importantly, tax revenue is showing improvement. Business establishments are setting up their branches or opening new offices in the new state to avail industrial incentives," principal finance secretary PV Ramesh told TOI. 

[King_Kong]

Thats why I keep saying this "planned capital" is stopping the revenue growth of AP. We can expect much more income growth once all state govt offices, govt employees and other HQs like Andhra Bank will be shifted to AP. But as it is PLANNED CAPITAL, many offices are still struck in Hyderabad. Dont know when the construction of this capital will be finished. Instead of planned capital, had CBN opted a present city as capital, many offices would have moved to AP by now which could yield much more income to AP govt. 

[dappusubhani]

Thanks

[always_happy116]

GP

[posaanisam]

anni sarlu planned capital ani cheppala  CITI_c$y

[dappusubhani]

anni sarlu planned capital ani cheppala CITI_c$y

Same like saying I'm neutral.. @3$%

[posaanisam]

Same like saying I'm neutral.. @3$%

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