VIJAYAWADA: Finance Minister Yanamala Ramakrishnudu has said that the State government did not compromise on development, welfare activities and programmes despite facing a fund crunch.
Addressing a press conference on Wednesday, Mr. Ramakrishnudu said that the government released funds both for development and welfare “perfectly” — as per budgetary allocations and beyond. Notwithstanding many pulls and pressures such as scanty rainfall, fall in revenue receipts, and deficit budget, AP continued to achieve double-digit economic growth. Despite, a 27 per cent deficit rainfall, the agriculture sector (including fisheries) registered a 25 per cent growth this year, he explained.
Many government departments received awards at the national level and also international rankings. “It is a good year, though we have certain problems. We have been ranked number one in institutional investments by the Reserve Bank of India and ease of doing business by the World Bank,” he said.
Differences in estimates
The Finance Minister said that the Centre owed Rs. 12,000 crore towards bridging the State’s revenue deficit caused by the bifurcation. There are some differences in estimates between the State and the Centre. “Nevertheless, we should still be getting some Rs. 7,000 crore,” he added.
