The Government of Andhra Pradesh has presented its first budget for the financial year 2015-16. This is the first full budget after the bifurcation of Andhra Pradesh. The total budget estimates for the year 2015-16 as presented by AP Finance Minister Yanamala Ramakrishnudu is Rs. 1,13,049 crore. Here are highlights of AP Budget 2015-16.
1) Non-Plan expenditure: Rs. 78,637 crore
2) The Plan outlay: Rs. 34,412 crore.
3) Revenue deficit: Rs. 7,300 crore
4) Fiscal deficit: Rs. 17,584 crore.
The fiscal deficit of the state is estimated at about 3 per cent of Gross State Domestic Product (GSDP) and revenue deficit at 1.24 per cent of GSDP.
1) Funds of new capital construction: Rs. 3,168 crore
2) Energy sector: Rs. 4,360 crore
3) Roads and buildings sectors: Rs. 2,960 crore.
4) World Bank aid: Rs. 2,700 crore for Hudhud cyclone relief works.
5) Tourism and culture sectors: Rs. 330 crore.
6) Irrigation sector: Rs. 5,258 crore.
Agriculture and other allied sectors will be considered for separate budget. The contribution of these sectors to the GSDP is estimated at 27 per cent of GSDP. As per the estimates of finance minister, the AP State has recorded a growth of 7.21 percent during 2014-15.