This is considered to be the highest gain in the last five years. In fact, AP fetched more revenues than neighbouring during the corresponding period.
According to the latest report released by the Comptroller and Auditor General (CAG), AP fetched Rs 88,618 crore in the first seven months of the current fiscal.
This is almost 22000 crore more than the revenues fetched during same period in 2020. The state’s revenues were badly hit due to the outbreak of Covid-19 in 2020.
Although a Growth rate of 10-15 per cent is anticipated every financial year, AP’s achieved over 35 per cent growth rate in one fiscal. In fact, Covid-19 second wave crippled the state between April and June in 2021.
The tax revenues proved that state achieved better growth rate despite struggling with the second wave of Covid-19 for the entire first quarter of the current fiscal.