In a surprising development, Andhra Pradesh has overtaken Telangana in the number of high-income earners, according to the latest Income Tax Department data for FY 2024. The report shows that Andhra Pradesh has recorded a sharp rise in individuals declaring annual incomes above ₹1 crore, challenging long-held beliefs about its economic standing.
For years, Telangana — especially Hyderabad — has been considered the stronger economic hub, driven by technology and innovation. Andhra Pradesh, on the other hand, was often viewed as financially weaker after the 2014 bifurcation. But the new data reveals a shift, with Andhra now pulling ahead in wealth creation.
Economists say this growth is linked to Andhra Pradesh’s industrial corridors, infrastructure projects, and investor-friendly policies. The state has been promoting entrepreneurship and new industries, which may have attracted high-net-worth individuals.
The numbers have sparked debate in political and business circles. Leaders from Andhra Pradesh hailed the achievement as proof of their state’s economic turnaround, while Telangana’s leadership is under pressure to strengthen its strategies. Experts believe the competition between the two states could intensify, benefiting the overall regional economy.
As Andhra Pradesh builds momentum, the key question is whether it can sustain this lead, or if Telangana will bounce back with new initiatives. One thing is certain: the economic rivalry between the two states has entered a new phase.
