Finance Minister Yanamala Ramakrishnudu said that the budget for 2015-16 fiscal was formulated to promote inclusive growth by allocating more for farmers and vulnerable sections and considerably reducing non-plan revenue expenditure.
Replying to the discussion on budget in the Assembly here on Thursday, Mr. Ramakrishnudu referred to the criticism of Leader of Opposition Y.S.Jaganmohan Reddy for reducing non-plan expenditure. Any economist would advise for reducing unproductive non-plan expenditure.
The State brought down the already high non-plan revenue expenditure by seven per cent to maintain fiscal discipline and allocated more funds for uplift of SC, STs, besides over Rs.6,000 crore for the BC sub-plan, he said.
Taking on Mr. Jagan for casting aspersions on Rs.15,000-crore revenue deficit submitted by the State to the 14{+t}{+h}Finance Commission, the Finance Minister said that it was first submitted by the Governor to the Centre to show the revenue loss of AP in the aftermath of bifurcation.
“Would he (Mr. Jagan) not wish the Centre and Finance Commission to grant funds to the State to rebuild its economy?,” he asked.
Though the Central devolution increased to 42 per cent to States, Andhra Pradesh did not gain much. The provisions for tax incentives to industries, special package and etc., had not been considered to undo injustice done to the State and people.
The Union Budget also was disappointing, Mr. Ramakrishnudu said. “While we are pursuing with the Centre for the promised grants for development, Mr. Jagan claims our kitty is full. I wondered who has prepared the budget, he or I? ” he quipped.
Mr. Ramakrishnudu said the State government had implemented loan waiver while Mr. Jagan had opposed it. The government has already released around Rs. 5,000 crore and allocated another Rs.4,000 crore for debt relief this year. For DWCRA groups, Rs.1,000 crore has been allotted as temporary relief, he said.
