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As per the latest reports, Andhra Pradesh’s revenue deficit has gone beyond 900 percent and currently stands at 918.14 percent. The main reason behind this is, the revenue expenditure and it is well over the incoming revenue.
In the last budget, the AP government estimated that the revenue deficit could be around Rs 5000.06 crore but by the end of December, the revenue deficit is Rs 45,907.65 crore and this is said to be the official figures. The previous financial year (2020-21), the revenue deficit was just 270 percent and it has almost tripled in the last nine months.
The only respite here is, the inflow of revenue. With Central grants worth Rs 25,246.19 crore, AP posted revenue of Rs 97,887.21 crore. The state’s own revenues are consistently growing and from GST, Stamp Duty, Registrations, share from central taxes and others, AP made a revenue of Rs 69,943.71 crore from nine months.
But simultaneously the state’s debts are growing too. In the first nine months of the financial year, the state borrowed Rs 58,111.85 crore which is against the budget target of Rs 37,029.79 crore and this means it is 156 percent higher.
AP’s own revenues are showing consistent growth but the government is spending a lot on welfare schemes which are mostly freebies. If the government finds a balance between the incoming revenue and revenue expenditure, the bad debts can be dealt with systematically.
Tags ANdhra Pradesh
