Andhra Pradesh CM Naidu stresses effective measures to shore up revenues

Andhra Pradesh aims to increase revenue to ₹1,02,154 crore by 2024-25 through tax reforms and mining sector growth.

Andhra Pradesh’s revenue is estimated to touch ₹1,02,154 crore during the financial year 2024-25.

There would be a marginal rise in the earnings through the Goods and Services Tax (GST), Value Added Tax (VAT), and excise and professional-commercial taxes for the financial year, officials informed Chief Minister N. Chandrababu Naidu, at a review meeting on the revenue earning departments on Tuesday.

For the 2023-24 financial year, a sum of ₹41,420 crore had been collected by the Commercial Tax Department against ₹41,382 crore so far during the current fiscal year.

Compared to the previous year, the excise revenue was expected to increase due to the new policy, the officials said, adding that revenue from the Mining Department had not grown as expected.

Given the Sate’s mining resources, highest revenue should come from the Mining Department, Mr. Naidu observed, and called for efforts to increase the earnings in the mining sector by resolving court cases and granting approvals.

Referring to Commercial Tax evasions, Mr. Naidu directed the officials to ensure that nobody evaded taxes, but cautioned them against harassing businessmen.

“Routine work with ordinary goals will not yield results,” he said. “New ideas should be implemented to increase the State’s revenues. Take effective measures to bring the State out of the financial troubles. Use technology to rectify deficiencies in revenue generation and increase income,” he said.