The Andhra Pradesh which had seen a little over Rs 16,000 crore revenue deficit after the bifurcation in 2014 and had been fighting with the Central government for filling the gap, today found having Rs 5,235.24 crore revenue surplus. This was informed by finance minister Yanamala Ramakrishnudu who presented the 2018-19 budget on Thursday.
According to the finance minister, the State had Rs 4,018 crore revenue deficit even in the last (2017-18) budget. This year, besides filling the Rs 4,018 crore deficit, the State had emerged with Rs 5,235 crore revenue surplus. This would mean that the State had overcome the revenue deficit of Rs 16,000 crore in five budgets.
More interesting aspect from the budget was the announcement of the finance minister that Rs 45,000 crore worth of developmental works were being executed in the new capital city, Amaravati. While fighting with the Central government for funds for Amaravati, Polavaram and backward districts on one side, one wonders how the State could claim of executing Rs 45,000 crore worth of developmental works in the capital.
However, while presenting the budget, the finance minister had criticised the Central government for its increasing indifference towards the State. He criticised the Central government for not fulfilling the promises and not extending the benefits that were promised at the time of bifurcation. His written speech copies of which were circulated to the members and the media had serious attack on the Central government and it looks like the terminology was carefully selected while the BJP had its two ministers in the State Cabinet when the speech was printed.
While admitting that four years were not sufficient to rebuild the State without the support from the Central government, the finance minister attributed the success or the revenue surplus from the deficit to the efficient resource mobilisation, effective management of available resources, technology advantages and instilling a sense of accountability and transparency in the government. He also held the people high stating that ‘the hard working, prudent, educated and enterprising citizens of AP deserve a huge applause for their invaluable contribution in the large mission of rebuilding the State’.
The finance minister presented a budget with an outlay of Rs 1,91,063.61 crore putting fiscal deficit at Rs 24,205.21 crore and revenue surplus at a little over Rs 5,000 crore.