AP finance minister said that the practices of the previous governments had emptied the state treasury
Andhra Pradesh finance minister Yanamala Ramakrishnudu
Hyderabad: Andhra Pradesh finance minister Yanamala Ramakrishnudu said the government has intentionally kept the plan outlay low in view of the rising revenue expenditure of the state. He said the practices of the previous governments had emptied the state treasury. Plan outlay was of about Rs 26,000 crore.Revenue expenditure is the cost of maintaining assets. Mr Ramakrishnudu was responding during a discussion on the Budget for the 2014-15 financial year. He said, “We can give more money to schemes and plans, but we did not want that.
Yes, we intentionally wanted the plan outlay to be low because of the rising revenue expenditure. In the last few years, it has risen tremendously. We will continue all flagship schemes and implement promises in our manifesto.”Mr Ramakrishnudu also said the grants-in-aid amount in the Budget was the money that the Centre lawfully owes to the state from Central Sales Tax and provisions in the AP Reorganisation Act. “We are to get about Rs7,000 crore from the Centre for CST sharing. And there are provisions in the Reorganisation Act based on which grants-in-aid amount has been arrived at,” he said.
Mr Ramakrishnudu also said the government was aiming for inclusive growth and that Chief Minister N. Chandrababu Naidu disliked the current formulation of per capita income. “We have to have inclusive growth. Our per capita income is currently about '73,000, but this is because of the wealth the upper strata owns. Poor people must grow and invest,” the minister said.
( Source : dc correspondent )
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