‘AP No1 In Revenue Deficit & No 1 In Debts’

TDP’s Pattabhi Ram yet again blasted the YCP government over a report by the Finance Department authorities. The report claimed that Andhra Pradesh revenue deficit soared to 662 percent in first half of 2021-22 while the fiscal deficit was up 107.79 percent for the same period. Pattabhi mocked that AP is number one in revenue deficit and debts.

In the 2021-22 Budget estimates, the state projected a revenue deficit of Rs 5,000.08 crore but between April and September, it shot up to Rs 33,140.62 crore which is 662.80 percent higher. Also the state government planned to borrow Rs 37,029.79 crore for the full financial year and shockingly within the first six months estimates crossed the limit and stands at Rs 39,914.18 crore.

Accordingly to CAG accounts, the state government posted a revenue of 1,04,804.91 crore, including Rs 39,914.18 crore borrowings but it is spending Rs 50,419.15 crore for the welfare freebie schemes (Navaratnalu – A Poll Promise of Jagan) while the rest of the money is spent on interest payment (on old loans), subsidy bill, salaries and pensions.

The only saving grace is, the state’s revenue touched Rs 64,871.69 crore, which is Rs 19,956.17 crore increase compared to the corresponding year while state’s tax revenue went up by Rs 15,050.77 crore to Rs 44,987.16 crore.

Simultaneously there is a drop in the capital expenditure. For the current year, the state government allotted Rs 30,571.53 crore for capital works and only Rs 6,419.51 crore was spent. This is evident that the state government is not taking up any development works and it’s not a good sign.

Last year, the government estimated Rs 29,300.42 crore for capital expenditure but only Rs 18,385.49 crore was actually spent.

With such worrisome figures, TDP’s Pattabi Ram added that when the debts are soaring how come the YCP government is claiming itself number one state in the country. These debts by YCP government should call for a celebration at Tadepalli camp office, satire Pattabhi Ram.