Hyderabad: There has been a significant increase in tax collection in the last three months after the formation of the Congress government in the state.
According to sources, the total tax collection in February this year was Rs 13,703.92 crore. The average monthly tax collection in the last 11 months of financial year 2023-24 was Rs 11,286 crore.
However, tax collection in February 2024 was Rs 2,400 crore higher than the average monthly collection of the last 11 months.
“The state is gradually recovering from 10 years of devastation under the BRS regime and improving its revenues,” government sources said.
Sources claimed that the real estate sector is also showing continuous progress. The income through stamps and registrations was Rs 1,300 crore in December 2023 and Rs 1,044 crore in January 2024. In February 2024, the income through stamps and registrations was Rs 1,282 crore.
GST revenue was Rs 4,100 crore in December 2023, Rs 3,843 crore in January and Rs 4,446 crore in February.
Tax revenue in 2023-24 increased by 13 percent compared to revenue in 2022-23. The total tax revenue in December 2023 was Rs 12,609 crore. Sources said the tax revenue in January 2024 was Rs 10,748 crore and in February 2024 it reached Rs 13,703 crore.
