Sources have stated that presently Andhra Pradesh has created history by earning a collection of Rs 8,250 crore from commercial taxes with a record 23.6% increase in tax revenue, which is the highest for any Indian state for the quarter ended in June 2016.
It is stated that AP continues to lag behind other states in the revenue collection in major PSUs and petro products and AP have registered these stunning numbers and the state's treasury has witnessed a huge growth in all revenue sectors.
It is stated that Andhra Pradesh has earned Rs 173 crore from tax on cigarettes, Rs 2,040 crore on liquor, Rs 2,208.83 crore from petroleum products and a meager Rs 41.40 crore from major public sector undertakings and other forms of taxes have further grossed Rs 437.3 crore more.
As per latest news Andhra Pradesh is in a much positive trend for the growth of business sector and most companies that has shifted base from Hyderabad to the state's capital have witnessed dramatic increase in sales during the 1st quarter in the current financial year.
