STOCK MARKET BSE NSE

AP Presents Rs 17,000-Cr Deficit Budget

Allocation to key sectors drastically cut; effort made to draw the attention of the Centre of the gravity and seek funds

Published: 13th March 2015 06:00 AM  |   Last Updated: 13th March 2015 06:00 AM   |  A+A-

HYDERABAD: There are no new taxes. Allocations to key sectors such as irrigation and social welfare have been drastically reduced and the blame laid on the previous UPA government for “unscientifically dividing the united Andhra Pradesh”. Effort has been made to draw the attention of the Centre to the grave financial situation the state is facing and build a strong case to get aid.

This, in a nutshell, is how the AP government prepared the State’s annual budget for the financial year 2015-16, which was introduced by State Finance Minister Yanamala Ramakrishnudu in the Assembly and Municipal Administration Minister P Narayana in the Legislative Council respectively here on Thursday. Ramakrishnudu presented the maiden full-fledged budget for AP, post division, for the fiscal year 2015-16 with a slightly higher outlay of Rs 1,13,049 crore, with the hope of getting more central aid.

ap.JPGThough he prepared the budget by cutting allocations to some key sectors such as irrigation and social welfare to reduce the gap between revenue and expenditure to convince the Centre that the reorganised State is passing through a severe financial crisis post-bifurcation, he refrained from imposing new taxes on the common man.

“Even though the State is facing a precarious financial situation, our government has refrained from burdening the common man by imposing new taxes. Instead, the budget is aimed at looking into possibilities of increasing non-tax revenue by exploring mineral wealth,” Ramakrishnudu said.

Interestingly, despite the financial constraints the State is facing, the Finance Minister tried to paint a rosy picture of the State in the infrastructure sector in the budget.

He allocated Rs 300 crore for construction of metro rail in Vijayawada and Visakhapatnam, besides earmarking an amount of Rs 300 crore for the construction of new capital city.

At the same time Ramakrishnudu also proposed to modernise existing airports in Visakhapatnam, Vijayawada and Tirupati, apart from setting up three new airports across the State.

He also suggested to construct a Greenfield airport at Bhogapuram in Vizianagarm district.

Stay up to date on all the latest Andhra Pradesh news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp