Industry & Economy
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Economy
AP registers revenue surplus
Our Bureau
Hyderabad
,
Oct. 14
THE State finances are looking bright, going by the claim by a group of ministers, who said that in the last six months a revenue surplus of Rs 1,704 crore has been realised compared to a revenue deficit of Rs 1,200 crore during the same period last year.
The State Finance Minister, Mr K. Rosaiah, went a step further and said the Government also recorded fiscal surplus of Rs 1,308 crore as against a deficit of Rs. 3,055 crore last year.
Giving a performance overview of the Government since coming to power in May 2004, Mr Rosaiah said that it has not knocked at the doors of the RBI during the last five months seeking overdraft, which demonstrated that the fiscal management has yielded results.
Speaking to reporters here on Thursday, Mr Rosaiah, the Revenue Minister, Mr D. Prasada Rao, and the Cabinet Ministers, Mr Redya Naik and Mr Shabbir Ali said revenue grew 18.69 per cent during April-September, 2004.
Revenue earnings during April-September 2004 were Rs. 7,432 crore compared to Rs 6,200 crore during the same period last year. The additional revenue earned by the Government was Rs 1,172 crore in the last five months.
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