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AP govt pegs FY 20-21 Budget at ₹2.24 lakh crore

Our Bureau Hyderabad | Updated on June 16, 2020 Published on June 16, 2020

AP Finance Minister Buggana Rajendranath Reddy preparing to go to the Assembly with a bag containing Budget papers on Tuesday   -  BY ARRANGEMENT

Andhra Pradesh has pegged its Budget Estimates for 2020-21 at ₹2.24 lakh-crore, down 1.4 per cent over last year’s Budget.

The revenue expenditure alone estimated at ₹1.80 lakh crore and capital expenditure, including loan repayments, has been projected at about ₹44,396 crore.

The revenue deficit and fiscal deficit are at ₹18,434 crore and ₹48,295 crore, respectively.

Presenting the Budget in Legislative Assembly in Amaravati on Tuesday, Finance Minister Buggana Rajendranath said 1.4 per cent decrease in the budget estimates was on account of major economic slowdown during the Covid-19 pandemic.

The state’s debt increased to ₹3.02 lakh crore at the end of March 2020 as against ₹2.59 lakh crore a year ago. In the present financial year, the debt is estimated to go to ₹3.48 lakh crore.

Even though the the government projected a revenue of ₹1.61 lakh crore in current fiscal, revenue shortfall was a staggering ₹68,000 crore as the revised estimates for 2019-20 showed receipts of only ₹1.10 lakh crore as against the estimated ₹1.78 lakh crore.

The top priority for the State government was `comprehensive development of AP and its positioning at the very top in terms of human development,’’ the Finance minister said.

It is the constant endeavour of the government to bridge the gulf between lost opportunities of the past and promises of the future,” the minister said.

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Published on June 16, 2020
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