AP readies jumbo Budget with eye on elections
Finance Minister Yanamala Ramakrishnudu will present Budget for 2018-19 with an outlay of around Rs 2 lakh crore on Thursday 11:30 am in the Andhra Pradesh Assembly.
Amaravati: Finance Minister Yanamala Ramakrishnudu will present Budget for 2018-19 with an outlay of around Rs 2 lakh crore on Thursday 11:30 am in the Andhra Pradesh Assembly.
At the same time, Municipal Administration Minister P Narayana will present the Budget in the Legislative Council. Later, Agriculture Minister S Chandra Mohan Reddy will present Agriculture Budget in the Assembly and Minister for Civil Supplies will present the Agriculture Budget in the Council. The Cabinet will meet on Thursday at 7:30 a.m. and to approve the Budget.
The state government is presenting a jumbo budget with an eye on general elections. The Finance department has received budgetary proposals from various departments for an amount of Rs 2.32 lakh crore. The state government presented budget for 2017-18 with an outlay of Rs 1.56 lakh crore.
Sources said Finance department has cut the amounts that were mentioned in the proposal submitted by various departments as the funds were not at expected level from the Centre. Besides, the several state government departments failed in achieving the revenue targets for 2017-18. The state government has already been facing revenue shortage due to implementation of GST.
The government has so far incurred revenue expenditure of Rs 1,08,828 crore against a projected Rs 1,25,911 crore. Capital expenditure stood at Rs 16,446 crore against a projected Rs 21,959 crore. The state revenue deficit touched Rs 14,682.74 crore and the fiscal deficit is 28,157.84 crore. The state government has collected SGST of around Rs 5,500 crore and yet to receive Central GST.