Andhra Pradesh’s Income crossed the expectations!

Andhra Pradesh government has crossed the expectations of its tax collections for 2014-15. It is said that the state managed to get more than 2.88% of the tax collection targets set for the year. In its interim budget, the state government expected that it would amass 37000 Crore from its own taxes in 2014-15.

By the end of this fiscal, the state has got more than 38000 Crore. The Stamps Registrations and Motor Vehicles got 500 Crore more than the expectations while excise duty has got more than 200 Crore than the target. Commercial Tax collections were on the expected lines.

The state had estimation of 46408.67 Crore from Tax and Non Tax income and it is has gone up to 47396.50 Crore. However despite this good feat, they will not help the state come out of the financial mess created due to the state bifurcation which left the state with more than 16000 Crore deficit.