HYDERABAD: With the Union Budget pouring cold water on Andhra Pradesh hopes, the State government has decided to take a fresh look at its budgetary proposals so as to mobilise resources on its own to fill the gap between revenue and expenditure.
Hinting at possible hike in taxes, AP Finance Minister Yanamala Ramakrishnudu said, “As the Union budget has not addressed our concerns, we have decided to reset the priorities in the State budget, which is being prepared for the coming financial year”.
Sources said in order to bridge the gap between revenue and expenditure, the Finance Minister is planning to increase taxes on select services and goods up to some extent. Interestingly, moments after the presentation of the Union budget in Parliament, Yanamala held a meeting with officials of the finance department at his chambers here.
Yanamala is learnt to have told the officials to once again prioritise all projects and schemes in the State as per the latest needs of the government. According to sources, he asked the officials to rationalise all the programmes and schemes in order to balance welfare, development and finances against the backdrop of the Union Budget.