Yanamala presents Rs 1.13 Lakh Cr budget for AP

Hyderabad, March 12 (INN): Finance Minister Yanamala Ramakrishnudu presented Rs 113,049 crore annual budget for the financial year 2015-16 for Andhra Pradesh State in the Legislative Assembly here on Thursday.

Of Rs 113,049 crore, Non-plan expenditure is estimated at Rs 78,637 crore and Plan expenditure at Rs 34,412 crore. The estimated revenue deficit is Rs 7,300 crore and Fiscal Deficit is estimated at Rs 17,584 crore. The fiscal deficit works out to 3% of GSDP whereas the Revenue Deficit works out to 1.24%.

The final accounts of 2013-14, show a revenue surplus of Rs 344 crore and fiscal deficit is well within the FRBM Act, at Rs 18,050 crore which is 2.11 of GSDP. The Revised Estimates of 2014-15 indicate a revenue deficit of Rs 14,242 crore. The fiscal deficit is estimated at Rs 20,320 crore which would be 3.88% of GSDP, Yanamala said.

"Though the total increase in the size of the budget from Rs 111,823 crore to Rs 113,049 crore is only 1.1%, the increase in Plan Budget from Rs 26,672 crore to Rs 34,412 crore which is 29.02% and increase in capital budget from Rs 7,069 crore to Rs 9,818 crore which is 38.18% is a significant achievement. We have actually been able to bring down non-plan expenditure from Rs 85,151 crore to Rs 78,636 crore and non-plan revenue expenditure from 78,976 crore to Rs 73,223 crore," he said.

The major allocations made in the AP's budget for 2015-16 are: Irrigation - Rs 5,258 Cr; Social Welfare - Rs 2,123 Cr; Tribal Welfare - Rs 993 Cr; BC Welfare - Rs 3,231 Cr; Minorities Welfare - Rs 379 Cr; Women & Child Welfare - Rs 1,080 Cr; Welfare of Disable & Senior Citizens - Rs 45 Cr; Housing - Rs 897 Cr; Civil Supplies - Rs 2,459 Cr; Health, Medical & Family Welfare - Rs 5,728 Cr; School Education - Rs 14,962 Cr; Intermediate Education - Rs 585 Cr; Higher Education - Rs 3,049 Cr; Rural Development - Rs 8,212 Cr; Panchayat Raj - Rs 3,296 Cr; Rural Water Supply - Rs 881 Cr; New State Capital - Rs 3,168 Cr; Roads and Buildings - Rs 2,960 Cr; Energy - Rs 4,360 Cr and Law & Order - Rs 4,062 Cr.

"I am confident that the Budget 2015-16 will enhance the process of building the new State on sound lines and pave way for taking rapid strides in the years to come. Our priority is inclusive growth in which equitable opportunities are advanced to all participants in the process of economic growth and benefits accrue to all sections of the Society, particularly those belonging to vulnerable sections," the Finance Minister said.

The budget was presented by Municipal Administration Minister P Narayana in the AP Legislative Council.