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AP Budget today

AP Budget today
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Andhra Pradesh Finance Minister Yanamala Ramakrishundu will be presenting his first full budget at 12.15 pm on Thursday. Talking to media on Wednesday, he said the state budget for 2015-16 fiscal would maintain equilibrium on revenue, expenditure and allocations fronts, balancing development and welfare.

Plan outlay likely to be 1.15 lakh cr

Hyderabad: Andhra Pradesh Finance Minister Yanamala Ramakrishundu will be presenting his first full budget at 12.15 pm on Thursday. Talking to media on Wednesday, he said the state budget for 2015-16 fiscal would maintain equilibrium on revenue, expenditure and allocations fronts, balancing development and welfare.

He said that shortfalls of the 13th Finance Commission, and recommendations of the 14th Finance Commission not recommending any special award to bridge the revenue deficit state would put several constraints on the budget. Citing that even after the devolution of 42 per cent of the taxes by the centre the State would continue to be in the deficit on revenue fronts after five-year period, he added. However, Ramakrishnudu said that the government is hopeful of getting more funds from the centre, before March 31.

Further, “we are talking to the centre the financial constraints being faced by the government, and hope it would respond positively.” In regard to the allocations, he said that the irrigation department had been sanctioned with huge funds. But, it could not spend them, and thus, this time allocations were made taking in view the expenditure and growth rate achieved by different departments in last ten year. However, as the government wanted to bring more acreage under cultivation, irrigation would get priority of it as stated earlier, he noted.

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