AP government presents budget for Rs 2.24 lakh crore
- IndiaGlitz, [Tuesday,June 16 2020]
The Jaganmohan Reddy government on Tuesday presented the budget for 2020-21. The budget was for Rs 2.24 lakh crore, which is 1.4 % less than the budget for 2019-20. Finance Minister Buggana Rajendranath said that the decrease is because of the economic slowdown in the wake of the pandemic.
Revenue deficit for the financial year is estimated to be Rs 18,434 Cr. On the other hand, fiscal deficit stands at Rs 48,295 Cr, which is quite huge.
Andhra Pradesh's debt burden stands at Rs 3.02 lakh crore as of March 31 this year. It is up from the previous figure of Rs 2.59 lakh crore. The debt burden is going to increase to Rs 3.48 lakh crore by March 31, 2021 per the government's estimate.
For 2019-20, receipts were Rs 1.10 lakh crore, while Rs 1.78 lakh crore was estimated. Projected revenue for the next year is Rs 1.61 lakh crore.
Revenue expenditure for 2020-21 is estimated at Rs 1.80 lakh crore, while capital expenditure will be Rs 44,396 crore.