The State exchequer is nearly bottomed out and left with mere ₹100 crore after payments towards salaries, Rythu Bharosa-PM Kisan, financial assistance to the farmers etc. The State government “may not be able to clear any bills” if the current financial situation were to be considered, according to sources in the government.
The prime concern is to pool funds for YSR Matsyakara Nestham which will be launched on November 21 coinciding with World Fisheries Day. The government will have to release about ₹200 crore for the scheme. The officials are pinning hopes on devolution of funds by the Centre, which is expected after November 20. The Centre releases about ₹2,000 crore every month towards devolution of funds (central excise, IT, customs etc).
This apart, the weekly GST collections is “expected to ease the condition.” The government receives about ₹400 crore to ₹500 crore, on average, every week towards the Goods and Services Tax (GST) collections. “It is necessary to scrape the GST collections together to ensure that the fishermen scheme was launched in a smooth manner,” says an official.
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The government will launch a slew of schemes this month. The YSR Matsyakara Nestham has major financial implication compared to other schemes like YSR Kanti Velugu which will be implemented by dovetailing with Central government schemes.
The government planned to provide ₹10,000 to each fisherman family during the ‘no fishing season’ under YSR Matsyakara Nestham. The subsidy amount on diesel for fishermen will also increase from ₹6.03 to ₹9 per litre.
A total of 1,32,332 families will be benefited from this scheme. In the next couple of months, Jagananna Amma Vodi scheme will be rolled out. The funds for the same will have to be pooled, say officials.
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Fall in revenues
The “finances are in red” for various reasons including “steep fall” in revenues from stamps and registration and excise.
The State government’s revenues from the tax on petroleum products are on the decline in the State. The tax revenues were mere ₹3,228.83 crore during the first quarter of this fiscal compared to ₹3,521.24 crore last year. Also, there is no match between expenditure and revenues. The government paid ₹4,500 crore towards salaries this month. Usually, it will be around ₹4,000 crore per month. The jump is due to payment of salaries to village volunteers.
Another ₹3,700 crore was released for Rythu Bharosa scheme. The government, in all, will have to pay ₹5,150 crore to the farmers under the scheme. The payments to the farmers under this scheme are still being made. The government will have to arrange funds for the remaining portion also, sources say.