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Andhra Pradesh places faith in Centre over grant of budget fundings

Andhra Pradesh Budget relies heavily on aid, borrowings

Hyderabad: A large chunk of Andhra Pradesh’s Rs 1,11,823 crore annual budget funding is at the mercy of the Central government's grant-in-aids and borrowings.

The AP government is expecting Rs 28,831 crore as grant-in-aids and about Rs 22,000 crore from several lending agencies.

State finance minister Yanamala Ramakrishnudu presented the Rs 1,11,823-crore annual Budget on Wednesday without any new taxes and new schemes.

In the Budget, the plan expenditure is Rs 26,673 crore and non-plan expenditure is Rs 85,151 crore. Revenue deficit is Rs 6,064 crore and fiscal deficit is Rs 12,064 crore.

During his one-and-a-half hour speech, Mr Ramakrishnudu, however, did not mention the new state capital but reiterated all the Central government's assurances given in the State Bifurcation Act.

The AP government has allotted Rs 5,000 crore in the Budget for the waiver of farm loans — Rs 4,000 crore in the plan Budget and Rs 1,000 core in the non-plan Budget.

( Source : dc correspondent )
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