For the first time, the State government has begun budget preparation six months in advance on Monday. The government has also constituted a budget expenditure management committee. A separate account would also be maintained for Polavaram project.
Addressing the meeting, Chief Minister N. Chandrababu Naidu said that the revenue receipts were not on expected lines. The same has to be brought to the notice of Central government to get Rs. 1,200 crore grant from it for bridging the deficit.
Necessary steps should also be taken to get Rs. 1,700 crore spent on Polavaram project reimbursed, he said. Expenditure incurred by all departments has to be streamlined and controlled. The departments should achieve accelerated growth rate. And for this, a budget expenditure management committee has to be constituted.
Government advisor C.R. Rao and three to four experts would be part of the committee, he said, adding they would help in achieving the desired growth rate apart from ensuring ‘quality spending’. Finance Minister Yanamala Ramakrishnudu said that the government began budget exercise six months in advance. Estimates would be taken from drawing and disbursement officers to executive units. The estimates would be ready by January, he asserted.
Estimates will be ready by January next year, says Finance Minister
