Tax Income goes down in AP!

Andhra Pradesh government has registered a downtrend in collection of taxes for the month of October. The tax income in September is 2193 Crores and that of October is 2000 Crores. The decline of 193 Crores may be attributed to the Hudhud Cyclone effect over Visakhapatnam. This district alone saw a decline of 14 Crores when compared to September.

Experts say the decrease is due to the falling prices of Petro products. This segment alone has resulted in 54 Crores loss. The income from liquor sales is also down to 502 Crores from the last month’s 702 Crores whereas the income from Cigarette sales increased by 14 Crores.

This situation certainly will not go well with the state which is already battling with bifurcation blues. The state had already borrowed 9000 Crores after the state division. It is known that the Center guaranteed to fill the deficit in the first year budget and the state government had pinned its hopes on the Center now.