AP presents revenue surplus budget in anticipation of more Central funds

For the first time in the last four years, Andhra Pradesh government on Thursday presented a revenue surplus budget for the financial year 2018-19 with a total estimated expenditure of Rs 1.91 trillion, which is 21.70 per cent higher than that in the current fiscal.

This is the last full budget of the present government as there would be only a Vote On Account budget for a six month period to be adopted by the state legislative assembly next March before going for polls, which are due in April-May next year.

The government prepared a revenue surplus budget based on more Central funds. The move comes as a surprise as the quantum of Centre's assistance towards bridging the state's revenue deficit for the past four years was one of the bone of contentions between the AP and the Centre.

"It is important to note that I am proposing a revenue surplus budget for the year 2018-19 anticipating that the Government of India would release all the dues as per the AP Reorganisation Act, 2014 at least this year," state finance minister Yanamala Ramakrishnudu said while presenting the annual budget in the state legislative assembly.

The receipts on revenue account during the year 2018-19 are estimated at Rs 1.56 trillion as against a revised estimate of Rs 1.23 trillion during 2017-18 with an expected growth of 26 percent in revenue receipts. The expenditure is estimated to be Rs 1.50 trillion as against the expenditure of Rs 1.27 trillion(revised estimate) during 2017-18. The estimate for 2017-18 reveals a revenue surplus of Rs 52.35 billion, according to the finance minister.

The government raised the allocations to social services by 30 percent to Rs 671.20 billion from Rs 512.68 billion in the current year's budget... In the economic services which saw a close to 20 percent increase in total allocation at Rs 678.30 billion, Polavaram multi-purpose irrigation project, which is being funded by Government of India, was given a whopping Rs 90 billion during the current budget.

The pre-election year budget has seen a three times increase to the weaker section housing at Rs 47.52 billion while allocation towards interest-free loans to the women self-help groups was increased 8 times to Rs 10 billion.while the estimated expenditure on social security pensions increased by 15 percent to touch Rs 500 billion.

The government has proposed to allocate Rs 77.41 billion for the infrastructure development in Amaravati capital for the year 2018-19.