Yanamala presents AP’s Rs 1.11 lakh crore budget

Hyderabad, Aug 20 (INN): Finance Minister Yanamala Ramakrishnudu on Wednesday presented Rs 1,11,824 crore budget for the State of Andhra Pradesh for the financial year 2014-15.

Presenting the first ever budget of Andhra Pradesh after bifurcation, Yanamala said that the Non-Plan Expenditure is estimated at Rs 85,151 crore and Plan Expenditure at Rs 26,673 crore. “The estimated revenue deficit is Rs 6,064 core and Fiscal Deficit is estimated at Rs 12,064 crore. The fiscal deficit works out to 2.30% of GSDP whereas the Revenue Deficit works out to 1.16%. These estimates include the receipts and expenditure of two months relating to undivided State of Andhra Pradesh and the anticipated additional assistance of Rs 14,500 crore from Government of India in the context of State reorganisation,” he said.

The Finance Minister expressed confidence that the Budget 2014-15 would initiate 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,”

Yanamala, who presented the budget again after 10 years, alleged that the interregnum period was characterised largely by lack of development vision, strategic direction and rampant corruption, failure of governance. After successive agitations and strikes in the past few years, the situation was compounded by the manner in which the State was bifurcated, he said.

“This unfortunate scenario which the present government has inherited leaves me in an unenviable position to deal with the complexities and problems, the State is burdened with. We have to now reinvent the process of building the economy once against the way in which we handled earlier,” he said.

Yanamala said that government would give top priority to the fulfillment of five major promises made during elections. They are debt relief to farmers and DWCRA women, raising the pension amounts, provision of 20 litres of mineral water for Rs 2 through corporate social responsibility of the private sector under NTR Sujala Pathakam, closing down of belt shops in villages and raising of retirement age of government employees from 58 to 60. “These announcements, as part of a holistic development strategy, are being fulfilled,” he said. “We are also committed to provide Post-Matric Scholarship and fee reimbursement to deserving students. Provision is made in the budget for taking schemes for welfare of Kapus and Brahmins. A Commission is being constituted to study the inclusion of Kapus into BC category without affecting the interests of BCs.”

The government has made a provision of Rs 2,657 Cr for the Social Welfare; Rs 1,150 for Tribal Welfare; Rs 3,130 for BC welfare; Rs 371 Cr for Minorities Welfare; Rs 1,049 for Women & Child Welfare; Rs 65 Cr for the Welfare of Disabled & Senior Citizens; Rs 126 Cr for Youth Services; Rs 113 Cr for Tourism; Rs 808 Cr for Housing; Rs 2,318 Cr for Civil Supplies; Rs 6,094 Cr for Rural Development; Rs 4,260 Cr for Panchayat Raj; Rs 1152 Cr for Rural Water Supply; Rs 3,134 for Urban Development; Rs 276 Cr for Labour and Employment; Rs 4,388 Cr for Health, Medical and Family Welfare; Rs 12,595 for School Education; Rs 812 Cr for Intermediate Education; Rs 2,275 Cr for Higher Education; Rs 418 Cr for Environment and Forests; Rs 73 Cr for Infrastructure & Investment; Rs 2,612 Cr for Roads & Buildings; Rs 7,164 Cr for Energy; Rs 8,465 Cr for Irrigation; Rs 615 Cr for Industries and Commerce; Rs 111 Cr for IT&C; Rs 403 Cr for Disaster Management; Rs 3,739 Cr for Law and Order and Rs 1,177 Cr for Revenue Department.

Yanamala said that the government has decided to re-draft the Vision 2020 document to frame vision that will set standards for a new development paradigm in sync with the change circumstances to place the State among the best three performing states in the country by 202 marking India @75. “The principal endeavour of the government will therefore be to make Andhra Pradesh ‘Swarandhra Pradesh’ a developed State measured in terms of citizen life satisfaction and Happiness Index by 2029, coinciding with the next three Finance Commissions,” he said.