The Hindu Business Line : 17% of AP liabilities in 2007-08 without back-up, says CAG

Industry & Economy - Economy
Government - Regulatory Bodies & Rulings
States - Andhra Pradesh
17% of AP liabilities in 2007-08 without back-up, says CAG

Development expenditure constitutes 69% of total spending.

Audit report
The State achieved revenue surplus for the second year in succession
The fiscal deficit was Rs 8,786 crore
Revenue receipts increased 22%

Our Bureau

Hyderabad, Dec. 5 During 2007-08, the assets of Andhra Pradesh Government went up by Rs 19,109 crore and liabilities grew by Rs 12,392 crore and 17 per cent of these liabilities have no asset back-up.

According to a Report (Civil) of the Comptroller and Auditor General of India on Andhra Pradesh Government for the year ended March 31, 2008, the State Government achieved revenue surplus for the second year in succession with a reduced surplus of Rs 159 crore during 2007-08.

The CAG also noted that the development expenditure constituted about 69 per cent of the total expenditure.

The revenue receipts increased 22 per cent while the revenue expenditure increased 30 per cent over previous financial year.

The CAG pointed out that the fiscal deficit for the year was Rs 8,786 crore and is 2.82 per cent of the Gross State Domestic Product which is higher than 2.10 per cent of GSDP achieved in 2006-07.

The primary surplus of Rs 1,636 crore in 2006-07 turned negative and lead to a deficit of Rs 1,197 crore during the current year.

capital expenditure

The capital expenditure of Rs 12,774 crore increased by 29 per cent over previous year and a large portion of its Rs 11,087 crore was spent on irrigation and flood control.

The report observed that as against total budget provision of Rs 88,450.66 crore, the expenditure was Rs 75,341.04 crore.

According to records, there was excess expenditure of Rs 201.30 crore under seven grants and three appropriations requiring regularisation by the State legislature.

The CAG also brought out some representative cases highlighting issues in nutritional support to primary education, functioning of Sri Venkateswara University, management of biomedical waste, implementation of Andhra Pradesh Community Forest Management Project and Prisons Department.

More Stories on : Economy | Regulatory Bodies & Rulings | Andhra Pradesh

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page