When demonetization seems to have taken its toll on the growth rate of other Indian states, AP yet again proves to be a winner by displaying a growth rate of 9.8% as compared to last year and with net tax revenue of INR46, 280 Cr when compared to the INR42, 148 crores of the previous fiscal year.
According to experts, the huge tax revenue collections, the state has created a history of sorts. This, in spite some of the targeted sections not having done as well as was expected.
The just about double digit growth of tax revenues of the state has been recorded as the highest when compared to the other states of India. This growth has definitely nullified any fears about the adverse effect that demonetization would have on the state.
According to a trustworthy source, the data about the high performance has been prepared and the government is all set to announce it along with last year’s figures in district collectors’ conference that will soon be held in the state.
With a view to offer transparency of the government and to ensure that the government officials were diligent about their target, CM Chandrababu Naidu taking cue from established organizations, had introduced the policy of declaring the financial quarterly results of the state.
Chief Secretary, Dinesh Kumar said that the revenues and growth rate reflect the fact that the industries have complete faith in the leadership of the CM. He added that the credit for this growth goes to the CM who was instrumental in clearing the apprehensions and encouraging the people to work hard.
According to him, it is crisis management abilities of the State Chief Minister that has propelled Andhra Pradesh to reach better heights than the other states.