Yanamala Ramakrishunudu said it is a Budget prepared in view of special situation
Andhra Pradesh Finance Minister Yanamala Ramakrishunudu
Andhra Pradesh Finance Minister Yanamala Ramakrishunudu
Hyderabad:Refuting the criticism that the Budget is too dependent on Central grants, finance minister Yanamala Ramakrishunudu said it is a Budget prepared in view of special situation following the state’s bifurcation and promises made in AP Reorganisation Act by the Centre.
He added that state is hoping that the Centre will help to bridge the revenue gap. He also said the state is relying on non-plan tax revenues from mineral wealth, commercial taxes after LNG terminal execution, CST component in the 14th finance commission.
“The Centre has already allotted Rs 1,180 crore for AP. We will pursue it. We have revenue deficit of more than four per cent. Departmental allocations are made on the average expenditure per annum of allocation,” he added.
Dwcra loan waiver overlooked:
The AP government has not made allocation for waiver of Dwcra loans in the first Budget presented on Wednesday in the state Assembly.
Mr Ramakrishnudu said that the Budget estimates included the receipts and expenditure of two months relating to the undivided state of AP and the anticipated additional assistance of Rs 14,500 crore from the Centre in the context of the state reorganisation.
The state government is expecting Rs 28,831 crore from the Centre as grants in aid and Rs 978 crore as loan. The state government has also proposed to borrow Rs 22,690 crore from various lending agencies.
( Source : dc correspondent )
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