The AP govt has run the first nine months of the financial year mostly on Central assistance.
Central assistance, grants, borrowings keep AP afloat
Hyderabad: The AP government has run the first nine months of the financial year mostly on Central assistance, grants and borrowings. In the annual Budget, more than half the funds that the state government has are from the Centre and much of the rest through borrowings. The state government's own tax and non-tax revenue is not even 50 per cent of the total Budget.
In the next three months, the state government will depend more on Central assistance and borrowings than its own tax and non-tax revenue. The AP government has proposed the Budget at Rs 1,12,852.48 crore. In the last nine months, its revenue was about Rs 75,537.75 crore. Of this, the state government has received Rs 14,552.87 crore from the Centre under its share of taxes. It has received another Rs 30, 476.78 crore as grants. The state government borrowed Rs 11,211.23 crore from the market and from Nabard.
In the last nine months, the state government's own tax and non-tax revenue was Rs 32,152.47 crore. To reach the total Budget figure, the state government has to get Rs 37,494.73 crore in the next three months. The state government has estimated that it will get Rs 11,242.35 crore from the Centre as its share in Central taxes and grants and will borrow Rs 5,236 crore from the market and Rs 500 crore from Nabard. Its own revenues will contribute Rs 20,212.35 crore. The government’s tax and non-tax revenue has increased compared to the previous financial year. According to present trends, the state government has estimated that except stamps & registration department no other revenue earning departments will reach 100 per cent target.
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( Source : deccan chronicle )
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