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Andhra Pradesh Revenue Collections Decrease for First Six Months on Account of Coronavirus in 2020
Andhra Pradesh Revenue Collections Decrease for First Six Months on Account of Coronavirus in 2020
Even during the pandemic, the revenue collections from GST and Petroleum Products have been showing a gradual increase by September
Amaravati: The Revenue collections for the first half-yearly of the ongoing financial year, from April to September showed nearly 32 per cent negative growth when compared with the corresponding period in the previous financial year. According to the statistics prepared by the Finance Department, the State realized only Rs 14,961.72 Cr till September from April 2020. During the same period in 2019, the government collected Rs 21,967.86 Cr. That is exactly 31.89 per cent lower than the previous year.
Interestingly, despite relaxing the COVID19 rules and allowing alcohol sales, the government got only Rs 1,529.94 Cr in the last six months, against the revenue of Rs 5,735.48 for the same period in 2019. It is 73.32 per cent low.
Though the revenue collections from the petroleum products show a negative growth over six months, it is better than the previous year between the months of July to September. The government collected Rs 4,509.03 Cr between April to September this year, whereas it got Rs 5,215.14 Cr during the corresponding period in 2019, which is 13.54 per cent less. Interestingly, the revenue collections showed a positive trend and the government realized more money in the last three months from the petroleum products. From July to September in 2020, the government got Rs 2,648.94 Cr but it achieved only Rs 2,553.02 Cr in the same period in 2019. This is 3.76 per cent higher in 2020 than in 2019.
The sources in the secretariat revealed that this hike in the revenue from the Petroleum products was mainly because of two things, including the government's intervention in increasing the Value Added Tax and allowing the vehicles for transportation.
