26
Tuesday
May 2020
12:22 AM IST
News Headlines
Need to find a way to outlast Pujara in summer series: Cummins        La Liga can resume week of June 8 - Spanish Prime Minister        Extend loan automatically to all eligible borrowers without fear of 3Cs: FM to banks        Will try to restart international flights before August: Puri        Iran warns US not to interfere with Venezuela oil shipment        Sri Lanka to ease coronavirus restrictions from May 26        Coronavirus cases cross 10,000-mark in Ahmedabad, 24 deaths        Amphan toll rises to 85 in Bengal; protests over electricity, water supply        Prisoners aged above 60 to be released on emergency parole to decongest jail in Delhi        Record jump in COVID-19 cases, 137 more deaths        Bryant items fetch premium prices, Trout card sets record        Baseball players respond to MLB on virus protocols        RBI extends moratorium on loans for another 3 months till Aug        Sensex, Nifty turn choppy; RIL jumps on KKR deal        Quarantine must for domestic air travellers: Kerala govt        At least 57 killed in Pakistan passenger plane crash in Karachi        China introduces new security bill in parliament to tighten controls over Hong Kong        Trump lashes out at scientists whose findings contradict him        COVID-19 death toll climbs to 3,583 in India        Pak troops shell LoC areas in twin sectors of Poonch, Rajouri        
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | Health   | About Deepika 
National News
Y S Jagan Mohan Reddy govt presents its first budget
 
Amaravati: The Y S Jagan Mohan Reddy government Friday presented its first Budget in the Andhra Pradesh Legislature with a total outlay of Rs 2.27 lakh crore for 2019-20.

In February, the then Telugu Desam Party government had presented a Rs 2.26 lakh crore vote-on-account budget ahead of the general elections.

The revised estimates for 2018-19 showed a cut of over Rs 29,000 crore in the budget, against the Rs 1.19 lakh crore estimates presented in March last year.

Finance Minister Buggana Rajendranath, who presented his budget, estimated that the revenue deficit would be Rs 1,778.52 crore and the fiscal deficit Rs 35,260.58 crore.

The huge revenue deficit continues to be a cause for concern as the state, reeling under an acute financial crisis, is faced with a mounting expenditure bill with the introduction of numerous new doles for different sections.

As per the figures given by the Finance Minister, the revenue deficit in 2018-19 was estimated to be Rs 11,654.91 crore, down from Rs 16,151.68 crore in the previous year.

Of the total expenditure of Rs 2,27,974.99 crore proposed in the 2019-20 Budget, revenue expenditure estimated alone would be Rs 1,80,475.94 crore, Finance Minister Buggana said.

Capital expenditure was estimated at Rs 32,293.39 crore, including Rs 8,994 crore towards principal repayment of public debt.

Incidentally, the states debt burden soared to Rs 2,58,928 crore by the end of the 2019 fiscal.

"This government has inherited probably one of the worst financial positions ever inherited in the history of our country.

The debt of the residuary state at the time of bifurcation (in June 2014), which was Rs 1,30,654 crore, reached a whopping Rs 2,58,928 crore by 2018-19,"Buggana said.

Further, over Rs 10,000 crore was borrowed through various corporations and diverted for spending by government.

Another Rs 18,000 crore worth bills were kept pending, he added.

"With all these liabilities, as soon as we came into the government, we were told that there was a resource gap of around Rs 45,000 crore to fulfill the commitments under Vote-on-Account budget presented in February.

This resource gap is further amplified by the budget necessary for our new programmes," Buggana said.

The demand for Special Category Status to Andhra Pradesh thus gained significance, the Minister noted.

"The Andhra Pradesh Reorganisation Act, 2014 was passed only after Special Category Status was promised and this was not the case with any other bifurcation.

AP is the only state that is demanding SCS for reasons beyond its control, as bifurcation has severely deteriorated the finances of the state," the minister pointed out.

Also, Andhra Pradesh was the only state whose SCS was approved by the Union Cabinet but has been pending for implementation, he said.

"Therefore, I am appealing to the Prime Minister and Government of India that Andhra Pradesh be given Special Category Status," the Finance Minister said.

Summing up his presentation, Buggana quoted the great political philosopher Chanakya, saying the latters "Chaturvidha Vikasa" (four-pronged development) would be the goal of their government.

"Achieving the desired target,sustaining the achievement, expanding the sustained achievements, ensuring expanded results...are useful for all, the minister said, quoting Chanakya.


Coronavirus cases cross 10,000-mark in Ahmedabad, 24 deaths
Amphan toll rises to 85 in Bengal; protests over electricity, water supply
Prisoners aged above 60 to be released on emergency parole to decongest jail in Delhi
COVID-19 death toll climbs to 3,583 in India
Pak troops shell LoC areas in twin sectors of Poonch, Rajouri
AIADMK completes four years in office in TN
PM Modi pays tributes to Rajiv Gandhi on his death anniversary
Cyclone Amphan: Naidu anguished at loss of lives
Police constable dies of COVID-19 in Mumbai
Cyclone Amphan: Heavy downpour, high velocity winds pound Odisha
1,372 new coronavirus cases found in Mumbai, 41 deaths
6 people killed as truck rams pickup van in UP's Etawah
No consent required from destination states to run Shramik Special trains: Railways
''Amphan'' moves closer to Odisha coast, rain lashes several areas
''Amphan'' to intensify into super cyclone by evening: MHA
CBSE to hold pending Class X and XII board exams from July 1 to 15
Karnataka govt extends existing lockdown measures by 2 days
BJP government solely responsible for plight of migrants: AAP
Top Hizbul commander, soldier killed in encounter in JK's Doda
CAPFs report 24 fresh COVID-19 cases; over 150 recoveries
ENTERTAINMENT NEWS
My whole life has been a miracle: Rajinikanth
 Mumbai: From starting out as a bus conductor to becoming one of the biggest stars of the: country,  
'Game of Thrones' star Indira Varma tests positive for coronavirus
Coronavirus: Release of Ranveer Singh-starrer '83' put on hold
'Joker' earns Joaquin Phoenix his maiden Oscar
INTERNATIONAL NEWS
Iran warns US not to interfere with Venezuela oil shipment
 Tehran: Iran's president on Saturday warned the United States not to interfere with a shipment of oi
Sri Lanka to ease coronavirus restrictions from May 26
At least 57 killed in Pakistan passenger plane crash in Karachi
China introduces new security bill in parliament to tighten controls over Hong Kong
KERALA NEWS
Quarantine must for domestic air travellers: Kerala govt
 Thiruvananthapuram: Domestic flyers arriving in Kerala must undergo strict home quarantine as per th
12 fresh COVID-19 cases in Kerala, total rises to 642
Central financial package lacks public healthcare initiatives: Kerala CM
29 fresh cases in Kerala; Over 67,000 under observation
Untitled Page
Rashtra Deepika LTD
Copyright @ 2020 , Rashtra Deepika Ltd.