Under CM Jagan's Rule, AP Adds New Feather To Its Cap: Tops the Nation with New ITR Filers

Under CM YS Jagan Mohan Reddy's administration, Andhra Pradesh state has added yet another feather to its hat. The state emerged as the national leader by adding the highest number of new tax filers, totalling 18 lakhs, from the assessment year 2020 to AY 2023.

This is as per a recent report by the State Bank of India titled "Deciphering Emerging Trends in ITR Filing: The Ascent of the New Middle Class in Circular Migration." Maharashtra (13.9 lakh), Uttar Pradesh (12.7 lakh), and Gujarat (8.8 lakh) closely followed, securing second, third, and fourth positions, respectively.

During the same period, Telangana experienced a decline in growth, ranking 20th among all states. In contrast, Andhra Pradesh stood out notably compared to other southern states like Karnataka, Tamil Nadu, and Kerala, each of which saw an average addition of 3-4 lakh new ITRs.

This surge in Andhra Pradesh can be partly attributed to the formalization of its MSME (micro, small, and medium enterprises) sector. This theory finds support in the fact that the top five states contributing to 60% of the total increase in ITR filing also accounted for 45% of all Udyam registrations (the official government platform for MSME registrations). Remarkably, Andhra Pradesh recorded 6.6 lakh Udyam registrations and 4.1 lakh GST registrations during this period.