VIJAYAWADA: BJP Political Feedback Pramukh Lanka Dinakar on Thursday said the unproductive expenditure in the State was quite high, while future revenue generating capital expenditure providing employment was meagre.
Commenting on the Comptroller and Auditor General of India (CAG) monthly financial data up to July, 2022, Dinakar said the financial situation of the State was like a ‘fish out of the water.’In the first four months of the current financial year, the fiscal discipline of the State was found to be out of control.
Revenue deficit was estimated at Rs 17,036.15 crore for 2022-23, but it had reached Rs 37,489.24 crore by July itself, registering 220.06% rise of the whole year estimates, he pointed out. Revenue deficit had increased additionally by more than Rs 11,000 crore between June and July for the current financial year and it was indicative of the State’s financial woes.
“The fiscal deficit estimated for the current financial year is Rs 48,724.11 crore and it has already reached 86.57% of the estimate in the first four months itself,” he highlighted. Dinakar opined that Andhra Pradesh would not be able to meet its capital expenditure targets as specified by the Centre to achieve the State share in Rs 1 lakh crore of incentivised interest-free 50-year long-term loans.
“Even though funds from grants and Central schemes account for 50% of the State’s budget revenue, there are difficulties ahead due to poor financial management of the YSRC government,” he analysed. The Jagan Mohan Reddy government was trying to keep away the public from knowing the facts by delaying provision of information and there was no proper reply to RTI query pertaining to State loans, he alleged.