CM N Chandrababu Naidu govt presents Rs 1 lakh crore Andhra Pradesh budget, imposes no fresh taxes

Written by PTI | Hyderabad | Updated: Aug 20 2014, 22:40pm hrs
BudgetThe Andhra Pradesh govt proposed an expenditure of Rs 1,11,824 crore in its Budget estimates for 2014-15. PTI
The CM N Chandrababu Naidu-helmed Andhra Pradesh government today proposed an expenditure of Rs 1,11,824 crore in its Budget estimates for 2014-15, without imposing any fresh taxes.

"For financial year 2014-15, government proposes an expenditure of Rs 1,11,824 crore; Non-plan expenditure is estimated at Rs 85,151 crore and plan expenditure at Rs 26,673 crore," state Finance Minister Y Ramakrishnudu said in his Budget speech in the Legislative Assembly.

The estimated revenue deficit has been pegged at Rs 6,064 crore and fiscal deficit is estimated at Rs 12,064 crore.

The fiscal deficit works out to 2.30 per cent of GSDP (Gross state domestic product) whereas the revenue deficit is estimated at 1.16 per cent.

"These estimates include the receipts and expenditure of two months relating to undivided state of Andhra Pradesh and the anticipated additional assistance of Rs 14,500 crore from the Government of India in the context of state reorganisation," he said.

Observing that united Andhra Pradesh has been a revenue surplus state as far as non-plan revenue is concerned, the Finance Minister said the division has made the residuary state of AP a huge revenue-deficit state on non-plan account.

"Overall revenue share of residuary state from tax and non-tax is estimated to be around 47 per cent of the united state. The state is not left with reasonable resources for a meaningful plan outlay," Ramakrishnudu said.

The Budget has made high allocations for school education, irrigation and energy.

A provision of Rs 12,595 crore is proposed in the Budget Estimates 2014-15 for school education.

AP chief minister N Chandrababu Naidu had recently launched a programme named 'Badi Pilustondi' (school calling) aiming at three major goals of improving enrolment, retention and reduction in dropout rates.

An amount of Rs 8,465 crore is proposed for irrigation in Budget estimates for this fiscal. The Finance Minister said as many 39 projects are to be completed in the sector. This excluded the Polavaram project (which has been given national status by Centre) and 'Uttarandhra Sujala Sravanthi projects'.

However, 11 projects which are in advanced stage of completion are targeted for the year 2014-15.

Energy, a top priority area for the TDP government, has been allocated Rs 7,164 crore.

Law and Order Rs 3,739 crore, Roads and Buildings Rs 2,612 crore), higher education Rs 2,275 crore, health, Medical and Family Welfare Rs 4,388 crore, Urban Development Rs 3,134 crore are other areas that have received substantial allocations.