Only one year after bifurcation, Andhra overtakes Telangana in tax receipts !!

Andhra overtakes Telangana in revenues !!

Andhra overtakes Telangana in revenues !!

In the first quarter of the current fiscal ( Apr – June 2015) thanks to healthy revenue receipts from commercial taxes, stamps and registrations as well as mines and forests, AP has raced ahead of Telangana. Until bifurcation and, even a year after, tax revenue from the 10 districts of Telangana always bettered the collection in the 13 districts of the Seemandhra region.

For the three month period that ended on June 30, 2015, while Telangana earned a tax revenue of Rs 10,580 crore, AP received Rs 10,806 crore. Telangana has always bettered because of Hyderabad, which accounted for a major chunk of united AP’s revenue. In a first for AP in many fiscal fronts, the residuary state netted Rs 7,182 crore as Value Added Tax (VAT), overtaking Telangana which recorded a collection of Rs 7,150 crore. The figures for Telangana include Hyderabad, which used to account for 30 per cent of the total revenue when the state was united. Another surprise is the performance of AP in real estate. During the first quarter of this fiscal, AP netted Rs 789 crore as against Telangana’s Rs 721 crore through land sale and registrations.

Andhra Pradesh has all its districts doing well in earning revenue from registrations. Visakhapatnam district, touted to become the next IT hub, turned out to be the top grosser with Rs. 204 crore (17 per cent of total State registration revenue) , Krishna district Rs. 171.6 crore (14 per cent) and Guntur, the district boasting the new capital region, at third place with Rs. 161 crore, East Godavari- Rs. 150 crore West Godvari – Rs.104 crore.

Though the State banked heavily on Krishna and Guntur which are close to the capital region of Amaravati and set ambitious targets for them, they could not surpass the target but the surprise came from the North Andhra districts of Srikakulam and Vizianagaram — where a Greenfield international airport is proposed near Bhogapuram — as they posted revenue much beyond the expectations. The other districts — Nellore, Prakasam and four Rayalaseema districts — Chittoor, Kadapa, Anantapur and Kurnool — either achieved the target or exceeded it till July.

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