AP sees stunning rise of income in May

Shifting of businesses to Vijayawada, Visakhapatnam and Tirupati seem to be working in favour of Andhra Pradesh as it is being reflected in increased revenue from commercial taxes. May witnessed a sharp increase in the Value Added Tax (VAT) revenue and stands at 2230 Crore which is the highest for any month since bifurcation.

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On the other side excise revenue also increased to 143 Crore in May as against 117 Crore in April. The revenue from stamps and registrations peaked to 231 Crore in May, the income is just 136 Crore in April. This is attributed to the increased real estate activity in all the districts of the state.

Guntur and Krishna districts, which come under the capital region, have reported the highest number of registrations. To increase the revenues further, the state government is now mulling to revise market rates of land in eight coastal districts. Only the revenue from transport sector had falledn from 275 Crore in April to 168 Crore in May due to the inter-state tax by both state governments. AP’s economy is showing signs of revival and major economic indicators are showing impressive growth.