Andhra Pradesh finance minister Yanamala Ramakrishnudu today presented first budget of the new state for Rs.1,11,884 crore for 2014-15 which included a planned out lay of Rs.85,151 crore and non plan expenditure of Rs.26,686 crore. Presenting the tax free budget Yanamala said fiscal deficit was Rs.19,028 crore and revenue deficit was Rs.6064 crore.
About Rs.5,000 cr to be earmarked for loan waiver. The State is banking on the promise of the Centre to make up for the revenue deficit of Rs.16,000 crore due to State division in its plan allocation. Faced with the twin challenges of precarious financial situation post bifurcation and compelling need to rebuild the State,
As part of the exercise to keep the budget need-based and realistic, Telugu Desam government is presenting a after a gap of 10 years.
Sources said government would be according priority for fiscal prudence to bring the State facing revenue, fiscal and prospect of high borrowings back on track while making allocation for capital expenditure to rebuild the State. Although the burden of the loan waiver is around Rs.45,000 crore, government will be making allocation of about Rs.5,000 crore to Rs.6,000 crore for the loan waiver to farmers, SHGs and others in the budget.
It made adequate allocations promises in the manifesto and new schemes like Anna canteens, NTR Sujala Sravanthi, with participation of civil society and corporate sector. Municipal Administration and Urban Development Minister P.Narayana will present the budget in the Legislative Council.
Highlights of the AP budget of Rs 1.11 lakh crores are as below
- Rs 85,151cr spared for non planned expenditure.
- Rs 26,000cr allocated for planned expenditure.
- Revenue deficit - RS 6,064cr.
- Financial deficit - Rs 12,06cr.
- Revenue deficit as per Vote on Account Budget - Rs 25,274cr
- Financial deficit as per Vote on Account Budget - Rs 37,910cr
- Budget allocation for law and order - Rs 3,339cr
- Budget allocation for natural calamities - Rs 403cr
- Budget allocation for IT sector - Rs 111cr
- Budget allocation for Irrigation Sector - Rs 8,467cr
- Budget allocation for POL - Rs 7,164cr
- Budget allocation for R & B - 2,612cr
- Budget allocation for Forests, Science & Technology - Rs 418cr
- Budget allocation for Higher Education - Rs 2.272cr
- Budget allocation for Intermediate Education - Rs 812cr
- Budget allocation for School education - Rs 12,595cr