Andhra Pradesh recorded GST revenue of Rs 7,653 crore in the first quarter of financial year 2023-24, an increase of 24 per cent over the corresponding quarter in 2022-23, officials said.
According to officials, the Andhra Pradesh Mineral Development Corporation (APMDC) is earning more revenue from Mangampeta baryte reserves and Suliyari coal block, which is expected to produce 5 million tonnes of coal in the current financial year.
Andhra Pradesh recorded GST revenue of Rs 7,653 crore in the first quarter of financial year 2023-24, an increase of 24 per cent over the corresponding quarter in 2022-23, officials said.
They apprised Chief Minister Y S Jagan Mohan Reddy regarding this income during a review meeting on revenue generating departments, noting that this GST revenue is excluding compensation.
Similarly, income from the registration department rose to Rs 2,794 crore until July 15 compared to Rs 2,292 crore generated in the previous fiscal, according to a press release issued by the state government on Monday.
Officials informed the Chief Minister that registration services have begun in the villages where resurvey of lands has been completed with 5,000 registrations already taking place in the village secretariats, achieving a revenue of Rs 8 crore.
According to officials, the Andhra Pradesh Mineral Development Corporation (APMDC) is earning more revenue from Mangampeta baryte reserves and Suliyari coal block, which is expected to produce 5 million tonnes of coal in the current financial year.
APMDC's revenue increased to Rs 1,806 crore in 2022-23 from Rs 502 crore in 2020-21, even as officials projected that it will rise to Rs 4,000 crore in 2023-24.
In the meeting, the Chief Minister pointed out that revenue from these departments has increased in the past four years due to the implementation of transparent policies and the ushering in of reforms along with loopholes getting plugged.
Regarding the transport department, Reddy directed officials to implement the best vehicle tax policies by incorporating reforms and implementing new policies after assessing tax policies from other states.
The new policies should be the best in the country to encourage vehicle buyers, he said, adding that revenue generating departments should involve the district collectors more while implementing the policies.
He observed that the finance department and others should hold a review meeting with district collectors regularly to strengthen the revenue generating mechanism, plug loopholes and create awareness on existing policies.