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AP records 13.86% revenue growth
AP Records 13.86% Revenue Growth. Revenue receipts of Andhra Pradesh have gone up to 13.86 per cent in the first and second quarters of the current fiscal.
- Commercial taxes growth at 5.96% in Q1 and 22.3% in Q2 during current fiscal
- VAT and CST collections record 4% increase
- CM mulls setting up of Economic Intelligence Units on the lines of those in Maharashtra
- Two new screening points for out-of-State vehicles at Tada and Ichapuram
Hyderabad: Revenue receipts of Andhra Pradesh have gone up to 13.86 per cent in the first and second quarters of the current fiscal. This was disclosed during a review meeting of the Transport and Revenue departments chaired by Chief Minister N Chandrababu Naidu on Tuesday. While the revenue receipts of the State stood at Rs 11,313 crore in the first and second quarters in the previous financial year, the same had gone up to Rs 12,881 crore during the same periods in the current fiscal.
The overall growth in revenue receipts had gone up when compared to the first and second quarters of the last financial year. This growth rate was attributed to increase in commercial taxes revenue which registered a 5.6 per cent growth rate in the first quarter, and touched 22.35 per cent, in the second quarter, during the current fiscal.
The increasing inflows into the State’s coffers was due to a spurt in the consumption of ‘home needs’, and ‘petro products’, which had gone up to 20 per cent and 11 per cent, respectively.
The State had also recorded an increase of growth rate of four per cent in Value Added Tax and Central Sales Tax front.
Taking stock of the growth scenario, the Chief Minister directed the officials of the Revenue department to explore the feasibility, to set up Economic Intelligence Units (EIUs), on the lines of Maharashtra, which uses advanced digital technologies to store and interpret the data collected by the State’s Sales Tax department.
Reviewing the performance of the Transport department, Naidu suggested exploring the possibility of fixing Global Positioning System Tracking on transport vehicles in the State. He has also asked the transport department officials to set up more screening points at Tada and Ichapuram check posts for out-of-State vehicles.
