The Andhra Pradesh government on Thursday presented its annual budget for the financial year 2021-22 with an estimated expenditure of Rs 2.29 lakh crore and estimated revenue of Rs 1.77 lakh crore, that leaves a revenue deficit of Rs 5,000 crore and fiscal deficit of Rs 37,029 crore.
Finance Minister Buggana Rajendranath presented the budget in the state Legislative Assembly after Governor Biswabhusan Harichandan's customary address to a joint sitting of the Council and the Assembly during the one-day session.
The state's public debt will accelerate to Rs 3,87,125 crore in 2021-22 from Rs 3,55,874 crore the previous year as the government targeted to borrow Rs 50,525 crore afresh. The state will spend an overwhelming Rs 23,205.88 crore this year towards debt servicing alone.
Further, the government earmarked Rs 48,083.92 crore for 22 freebie schemes this year. Three of these schemes that will cost Rs 16,899 crore will be implemented through the State Development Corporation.
The gender budget has further been divided into two components, one of which has an outlay of Rs 23,463 crore to fully cover schemes targeted for women and girls.
The estimated expenditure according to the budget was Rs 2.29 lakh crore and the estimated revenue was Rs 1.77 lakh crore. While the estimated revenue deficit was Rs 5,000 crore, the fiscal deficit was estimated to be Rs 37,029 crore.
The state's public debt will mount to Rs 3,87,125 crore in 2021-22 from Rs 3,55,874 crore the previous year as the government targeted to borrow Rs 50,525 crore afresh.
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