TS state revenue drops on Nov 9, 10

Sat 12 Nov 2016, 10:48:15

The state government is feeling the pinch of demonetisation of big currency as its revenue collections have dropped to a record Rs 8 crore for a single day. As against the daily revenue of the state government  which is anywhere between Rs 100 crore to Rs  200 crore, on Wednesday and Thursday, it dropped to just Rs 8 crore.

Even as business transactions fell down drastically leading to dip in revenue, the only saving grace was jump in petrol sales which resulted in increased VAT collections to the state.

People made a beeline to petrol bunks with a view to exchange big notes and the sale of petrol increased by 122 per cent and diesel by 98 pc in the last two days.  “However, in the coming days, the sale of petrol and diesel  will come down by 25 percent less than the normal sale,” official sources said.

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