Andhra Pradesh puts up record revenue in July!

Andhra Pradesh had put up record revenue of 4507 Crore in July which is the highest ever after the state bifurcation. Post the state division, the state is seeing an average revenue of 3400 Crore per month. The commercial tax collections have improved very much and aided this northward trend.

The value added tax (VAT) collection hit an all-time high of Rs 2,490 crore in July, this is the highest ever tax collected in the state. In fact it rose by 15.63% much higher that other states in the South.

Other tax collections, including transport (175 Crore), mines (150 Crore), stamps and registrations (450 Crore), also showed a healthy growth in July. Incidentally, other states struggled to maintain the tempo. This record revenue helped the state to avoid going overdraft with RBI.