Hyderabad: A revenue deficit of over Rs70 billion (Dh4.1 billion) has been projected in Andhra Pradesh’s maiden full-fledged budget for 2015-16, which was presented in the state assembly on Thursday.
Finance Minister Y. Ramakrishnudu has in his first budget proposed an expenditure of Rs1.13 trillion, comprising non-plan expenditure of Rs786 billion and plan expenditure of Rs344 billion.
He told the assembly that the estimated revenue deficit is Rs73 billion and fiscal deficit is estimated at Rs17.5 billion.
He exuded confidence that the budget will enhance the process of building the new state on sound lines and pave way for taking rapid strides in years to come.
This is the first full-fledged budget of Andhra Pradesh after separate Telangana state was carved out in June last year.
Ramakrishnudu had presented Rs1.11 trillion interim budget in August last year for 2014-15.