Andhra Pradesh govt presents Rs 1.6 lakh cr Budget, pegs fiscal deficit at Rs 24,487 cr
Presenting his third budget in the Assembly today, state Finance Minister Anam Ramanarayana Reddy said that the state has "optimistically targeted" attaining a growth of 6 per cent in agriculture, 10.5 per cent in industry and 11.5 per cent in services leading to an overall growth target of 10 per cent for the 12th Plan.
The state had achieved a growth rate of 8.18 per cent during the 11th Plan (2007-12).
Separately, Andhra Pradesh Agriculture Minister Kanna Lakshminarayana presented an "action plan" with an amount of Rs 25,962 crore for agriculture and allied sectors.
The principal opposition Telugu Desam Party (TDP) boycotted the agriculture minister's presentation and walked out of the assembly dubbing the government's "pioneering move" as "unconstitutional".
Of the total budget, Rs 1.01 lakh crore would be non-plan expenditure and Rs 59,422 crore under plan, including Rs 6,451 crore under centrally-sponsored schemes. The budget estimates revenue "surplus" of Rs 1,023 crore.
The finance minister said the state's revenue receipts in 2013-14 would be to the tune of Rs 1,27,772 crore, marking an increase of 9.4 per cent over 2012-13.
"It is a welfare budget," Ramanarayana Reddy said, referring to the enhanced allocations towards welfare programmes for backward classes, scheduled castes and scheduled tribes.
In line with the statutory status granted to the Scheduled Castes and the Scheduled Tribes Special Component Plans, the finance minister allotted Rs 8,585 crore (16.21
per cent) and Rs 3,666 crore (6.92
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