The estimated revenue deficit is Rs. 7,300 crores (3% of the GSDP), and the fiscal deficit is estimated at Rs. 17,584 crores (1.24%).
Finance Minister Yanamala Ramakrishnudu presented a Rs. 113,049-crore annual budget for the financial year 2015-16 for Andhra Pradesh in the Legislative Assembly on Thursday.
Of the Rs. 1,13,049 crores, non-plan expenditure is estimated at Rs. 78,637 crores and plan expenditure at Rs. 34,412 crores.
The estimated revenue deficit is Rs. 7,300 crores, and the fiscal deficit is estimated at Rs. 17,584 crores.
The fiscal deficit works out to 3% of the GSDP while the revenue deficit works out to 1.24%.
The final accounts of 2013-14 show a revenue surplus of Rs. 344 crores, and the fiscal deficit at Rs. 18,050 crores is within the FRBM Act, and 2.11% of the GSDP.
The revised estimates of 2014-15 indicate a revenue deficit of Rs. 14,242 crores. The fiscal deficit is estimated at Rs. 20,320 crores, which would be 3.88% of the GSDP, Yanamala said.
"Though the total increase in the size of the budget from Rs. 1,11,823 crores to Rs. 1,13,049 crores is only 1.1%, the increase in the plan budget from Rs. 26,672 crores to Rs. 34,412 crores is 29.02%, and the increase in the capital budget from Rs. 7,069 crores to Rs. 9,818 crores is 38.18%, which are significant achievements. We have actually been able to bring down the non-plan expenditure from Rs. 85,151 crores to Rs. 78,636 crores, and the non-plan revenue expenditure from Rs. 78,976 crores to Rs. 73,223 crores," he said.
The major allocations made in AP's budget for 2015-16 are:
Irrigation - Rs. 5,258 crores
Social welfare - Rs. 2,123 crores
Tribal welfare - Rs. 993 crores
BC welfare - Rs. 3,231 crores
Minorities welfare - Rs. 379 crores
Women & child welfare - Rs. 1,080 crores
Welfare of disabled & senior citizens - Rs. 45 crores
Housing - Rs. 897 crores
Civil supplies - Rs. 2,459 crores
Health, medical & family welfare - Rs. 5,728 crores
School education - Rs. 14,962 crores
Intermediate education - Rs. 585 crores
Higher education - Rs. 3,049 crores
Rural development - Rs. 8,212 crores
Panchayat raj - Rs. 3,296 crores
Rural water supply - Rs. 881 crores
New state capital - Rs. 3,168 crores
Roads and buildings - Rs. 2,960 crores
Energy - Rs. 4,360 crores
Law & order - Rs. 4,062 crores
"I am confident that the budget for 2015-16 will power the process of building the new state on sound lines and pave the 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 A P Legislative Council. (INN)