In what is seen as a major boost for the truncated state of Andhra Pradesh, the AP has beaten its counterpart Telangana in terms of revenue. Taking many by surprise, AP government earned more revenue than Telangana in the first quarter of the current financial year. It’s learnt that AP scored big through the sale of land and its registrations.
Usually, Telangana has always performed better than AP because of capital city Hyderabad which accounts for the major chunk of the United AP’s revenue. Although the lands sales increased in Hyderabad and Ranga Reddy districts, the revenues from land registrations said to have not good in Telangana.
Going into details, AP earned a tax revenue of Rs 10,806 Crore in the first quarter whereas Telangana lagged behind with a tax revenue of Rs 10,580 Crore. Compared to last financial year, AP did way better. The residuary state of AP netted Rs 7,182 Crore as Value Added Tax (VAT) outwitting Telangana which stood at Rs 7,150 Crore. AP came out with flying colours in the real-estate sector. In the first quarter of this fiscal, AP netted Rs 789 Crore as against Telangana’s Rs 721 Crore through land sale and registrations.
However, in Transport sector, AP falls behind Telangana. The revenue earned by Telangana through vehicle registrations in the first quarter recorded at Rs 569 Crore whereas AP secured only Rs 512 Crore in the 13 districts. On whole, AP performed better than Telangana bringing cheers on people and government officials. This gives a ray of hope for the truncated state which is mired in neck-deep financial crunch.
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