AP’s revenue collection around Rs 26,000 crore in first half of 2022-23: CMO
Amaravati, Oct 7 : Andhra Pradesh government’s revenue has touched Rs 25,928 crore in the first half of financial year 2022-23, the Chief Minister’s Office said.
This was 94.47 per cent of the targeted Rs 27,445 crore for the first half of the year, the CMO said in a release on Thursday, citing officials who took part in a review by Chief Minister Y S Jagan Mohan Reddy on revenue earning departments.
The release said Goods and Services Tax (GST) collection in the state was 28.79 per cent in the April-September period as against the national average of 27.8 per cent.
It also quoted the officials as informing the Chief Minister that the state’s revenue was “on track” and that they were taking steps to “plug the leaks”.
A couple of days ago, the Comptroller and Auditor General of India (CAG) released the state accounts for the first five months of 2022-23, putting AP’s tax revenue at Rs 43,499.73 crore.
This was Rs 6,448.94 crore excess as compared to the first five months in the previous fiscal.
Between April and August 2022, the state earned Rs 15,608 crore as GST revenue, Rs 3,473 crore as stamps and registration fee, Rs 7,592 crore as sales tax, Rs 6,594 crore as state excise duties and Rs 2,016 crore as other taxes. Another Rs 8,209 crore came as the state share in Union taxes, according to the CAG accounts.
Besides, the state has borrowed Rs 44,582 crore in the first five months alone, against the annual target of Rs 48,724 crore.