Palakol (also called as Palakollu or Palacole) is a Financial town in the state of Andhra Pradesh in India.Palakol is oldest Municipalities in A.P. Constituted on 1-4-1920. It is an important trading town in West Godavari district for the surrounding villages Doddipatla, Achanta, Achanta Vemavaram etc., and is in proximity with other trading towns such as Bhimavaram, Eluru, Tanuku and Narsapur.