Andhra Pradesh

Budget did not reflect full income: CM

Andhra Pradesh Chief Minister N. Chandrababu Naidu at his residence in Hyderabad. A file Photo: Nagara Gopal   | Photo Credit: NAGARA GOPAL

Chief Minister N. Chandrababu Naidu said the budget presented by Finance Minister Yanamala Ramakrishnudu did not reflect full income as there was no clarity yet on the total revenue the State would get in a year.

Talking to reporters, he said the figures mentioned were rough estimates and the final allocations could change. Reiterating that the government was committed to loan waiver, he said that a separate agricultural budget would be presented on August 22.

Mr. Naidu said the loss caused by the division of the State was not reflected in the budget. He felt that the loss should be compensated by the Centre as the fiscal situation of the State was in a mess. The overall development objectives could be met through near-term and long-term planning.

He said the Centre has agreed to bear the deficit of about Rs.12,000 crore in this year’s budget.

The State government was also trying to overcome the constraints caused by Fiscal Responsibility and Budget Management (FRBM) Act.

Hitting out at YSR Congress leaders, the Chief Minister wondered whether they knew what the budget was and added that their expertise was in other things.

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Printable version | Jan 15, 2021 10:15:29 PM | https://www.thehindu.com/news/national/andhra-pradesh/budget-did-not-reflect-full-income-cm/article6335623.ece

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