Tax-free surplus vote-on-account for Andhra PradeshFebruary 5th, 2009 - 6:43 pm ICT by IANS
Hyderabad, Feb 5 (IANS) Andhra Pradesh Finance Minister K. Rosaiah Thursday presented a tax-free revenue surplus vote-on-account for 2009-10 with an overall expenditure of over Rs.1,000 billion (Rs.100,000 crore). In his budget speech, the finance minister told the state assembly that the overall expenditure in fiscal 2009-10 would be Rs.1051.44 billion (Rs.105,144 crore), comprising Rs.632.52 billion under non-plan and Rs.418.92 billion under plan heads.
“This will result in a revenue surplus of Rs.12.55 billion. The fiscal deficit is estimated to be Rs.120.92 billion, which would be 2.93 percent of the GSDP (gross state domestic product),” Rosaiah said.
The state’s plan allocation for 2008-09 is Rs.1,004.36 billion (Rs.100,436 billion), claimed to be the highest for any state in the country.
With elections round the corner, the Congress government has presented vote-on-account instead of a full-fledged budget.
The revenue estimate for the next fiscal has been put at Rs.796.91 billion.
In 2008-09, the revenues are expected to reach Rs.696.86 billion as against the budgeted figure of Rs.709.27 billion, despite the state facing the impact of the global meltdown, Rosaiah said.
He added that the state registered 10.64 percent economic growth in 2007-08.
The government has once again focused on welfare and development programmes and increased allocation for key sectors like irrigation, agriculture and housing.
The minister allocated Rs.186.18 billion or 17.71 percent of the total budget for irrigation sector as against Rs.165 billion allocated in the last budget. A big chunk of this amount will be spent on completing major irrigation projects under the ‘Jalayagnam’ programme.
For agriculture and allied sectors, the state has allocated Rs.29.27 billion. It has provided Rs.58.3 billion for energy, of which Rs.50.4 billion has been provided towards electricity subsidy or for free electricity supply scheme to farmers. The budget has provided Rs.30 billion for food subsidy
There has been significant jump in the allocations for education, health and housing sectors. Rosaiah has allocated Rs.111.37 billion for general education, Rs.2.69 billion for technical education, Rs.35.43 billion for health and family welfare, Rs.10.86 billion for water supply and sanitation and Rs.50 billion for housing.
The government has also set aside Rs.48.25 billion for the welfare of scheduled castes, scheduled tribes, backward classes and minorities. Another Rs.13.29 billion have been made available for social security and welfare.
Rosaiah announced new pension scheme for the members of women self-help groups. Every woman member will get Rs.500 per month upon attaining the age of 60 years.