Well with the bifurcation, taxmen are reportedly forecasting a win-win situation for all after the division. Sources say that even large states such as Uttar Pradesh, Punjab, Madhya Pradesh and Bihar saw focused development and increased revenues after their re-organisation.
According to senior officials from the Central Board of Direct Taxes the same story is now expected to be repeated once the two new states of Andhra Pradesh and Telangana officially get declared. Sources say that even before the Telangana movement had gained momentum, Hyderabad had contributed more than 50% of the revenue generated.
This is out of the total of Rs 29,000 crore just last year. The same stands holds good for the expected target of Rs 33,000 crore this time. One reason for this revenue generation is many industries with national presence have their headquarters in Hyderabad and thus pay the tax here.
Since now there will be more focused development, more fund allocations from the Centre, more industries and hence there will be more jobs and a wider tax base wherein the state as well as the central taxes will gain huge figures due to more number of tax payers.
