Economic times reports that
- In the last few months, over 700 small and medium sized companies moved their registered offices from Hyderabad to different towns/ cities in Andhra. The only reason was to pay their taxes in their home state and help it financially.
- Moreover, what is also surprising is that since June 2nd 2014 (ie in the last 22 days) 118 new firms registered in Andhra vs only 12 in Telangana.
- It also states that many construction / infra firms are waiting to liquidate their assets in Hyderabad so that they can make fresh investments in Andhra.