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AP govt took Rs 56,000 cr loans outside Budget: Centre

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The Centre on Tuesday (today) confirmed in Parliament that the Andhra Pradesh government reeling under severe financial crisis and caught in debt trap.

Union minister of state for finance Bhagwad Karad told Rajya Sabha that the YSRCP government took over Rs 56,000 crore off budget loans (which are not mentioned in the State Annual Budget) since April 2019 till date.

To a question raised by TDP Rajya Sabha member Kanakamedala Ravindra Kumar, the union minister replied that AP government took these loans from various public sector banks in the name of corporations and companies owned by state government.

Of this, the AP government took highest loans of Rs 15,047 crore from State Bank of India.

Bank of Baroda extended loans of Rs 9,450 crore, Bank of India Rs 7,075 crore, Union Bank of India Rs 6,800 crore, Punjab National Bank Rs 5,797 crore, Indian Bank Rs 4,300 crore, Bank of Maharashtra Rs 2,800 crore, Central Bank Rs 2,307 crore, Indian Overseas Bank Rs 1,750 crore, Punjab and Sind Bank Rs 750 crore.

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YCP ‘gender budget’ for women for first time

The Jaganmohan Reddy Government presented a budget for Rs. 2.29 lakh Cr for 2021-`22 in the AP Assembly. The highlight of this was the ‘gender-based budget’ that the State Government has brought in exclusively for women for the first time. For this, over Rs. 47,283 Cr has been allocated. Also, Rs. 16,748 Cr was allocated for the welfare of children as part of this. The special gender budget is in line with the Chief Minister’s decision to give top priority in the allocations for the well being of women and children.

This year’s budget is around Rs. 5,000 Cr more than last year. The revenue deficit is also shown at Rs. 5,000 Cr this year. Finance Minister Rajendranath Reddy said that the revenue expenditure would be Rs. 1.82 lakh Cr and capital expenditure Rs. 47,582 Cr. The YCP regime allocated Rs. 28,237 Cr for BCs and Rs. 5,478 Cr for EBCs to counter the Opposition TDP. At the same time, it allocated Rs. 3,306 Cr for Kapus welfare to take on the Jagan Sena Party.

The following are the budget allocations made:

BC sub plan – Rs. 28,237 Cr
EBC welfare – Rs. 5,478 Cr
SC sub plan – Rs. 17,403 Cr
ST sub plan – Rs. 6,131 Cr
Brahmin welfare – Rs. 359 Cr
Kapus welfare – Rs. 3,306 Cr
Women welfare – Rs. 47,283 Cr
Children welfare – Rs. 16,748 Cr
Agriculture – Rs. 11,210 Cr
Education – Rs. 24,624 Cr
Medical, health – Rs. 13,830 Cr
Energy – Rs. 6,637 Cr
R&B – Rs. 7,594 Cr
Irrigation – Rs. 13,237 Cr
Pension kanuka – Rs. 17,000 Cr
Rythu Bharosa – Rs. 3,845 Cr
Vidya Deevena – Rs. 2,500 Cr
Vasati Deevena – Rs. 2,223 Cr
Sunna Vaddi – Rs. 500 Cr
Kapu Nestham – Rs. 500 Cr

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TDP to boycott AP Assembly budget session!

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The opposition TDP has decided to boycott the upcoming budget session of AP Legislative Assembly.

The TDP said there is no point in holding ‘name sake budget session’ just for a single day on May 20 and for this reason they have decided to boycott the session.

TDLP deputy leader in Assembly K Atchennaidu said that Jagan government is holding name sake budget session for a day out of fear that his government will collapse if Assembly session is not conducted within a gap of six months as per Constitution.

He said the budget session will be meaningful only if it is held for at least two weeks to discuss on budget proposals and appropriation bill.

He criticised YSRCP government’s plans to secure Assembly approval for budget without any debate. He said a full fledged debate is a must to approve AP Budget for 2021-22 which is as big as Rs 2.11 lakh crore budget.

He questioned the rationale behind holding Assembly session at this stage when there are over 2 lakh Covid active cases in state while not holding budget session in March when Covid active cases were just 900.

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A Navarathnalu Budget, no mention of growth, development or job creation

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If there ever was a budget where the government could have gotten away with grotesque welfare spending, it was this one. The YSRCP ruling does know we are in the middle of a pandemic and perhaps the worst economic crisis of our lifetime. In its second budget after riding to power with a massive mandate of 151 seats in the Assembly, Finance Minister Buganna Rajendranath presented a Budget plan on Wednesday with grotesque welfare spending but with no roadmap for improving the State’s financial health or drive growth in industry and service sectors. As many as 22 welfare schemes are incorporated in the Budget while there is no mention of how the Andhra Pradesh government will tide over the corona virus crisis.

Finance minister Buggana Rajendranath Reddy on Tuesday presented the state budget with an outlay of Rs 2.20 lakh crore for 2020-21 which is less than the previous fiscal outlay of Rs 2.27 lakh crore (2019-2020) due to slowdown during the Covid-19 pandemic. The finance minister pegged revenue expenditure at Rs 1.80 lakh, while capital expenditure including loan repayments and other capital disbursement at Rs 44,396 crore. Revenue deficit was pegged at around R. 18,434 crore, while fiscal Deficit was estimated at around R. 48,295 crore. The fiscal deficit will be around 4.78 % of the GSDP, while revenue deficit will be around 1.82 % of the GSDP.

The Andhra Pradesh government, in its second Budget, had mainly focussed on its election manifesto’s Navaratnalu — the nine welfare schemes covering farmers, women, medical and health, education and Special Category Status (SCS).

Of the total outlay of ₹2.24 lakh crore, a whopping Rs 35,774 crore has been allotted to SC/BC and minority welfare (Rs 23,406 crore to BC welfare, Rs 7,525 crore to SC welfare, Rs 2,845 crore to Kapu welfare and 1,998 crore to minority welfare. A lion’s share of the Budget was allocated to the YSRCP’s election manifesto of Navaratnalu, including Rs 16,000 crore for YSR Pension, Rs 6,300 crore for YSR Asara, Rs 6,000 crore for Amma Vodu, Rs 3,615 crore for YSR Rythu Bharosa, Rs 3,009 crore for Jaganna Vidya Devenne, more than Rs 3,000 crore for YSR Cheyutha, Rs 2,000 crore for Jaganna Vasati Devenne, Rs 1,100 crore for interest- free loans, Rs 350 crore for YSR Kapu Nestham, Rs 275 crore for YSR Vahana Mitra, Rs 247 crore Jagananna Chedodu, Rs 200 crore for Netanna Nestham and a host of other schemes either named after late Y S Rajasekhar Reddy or Chief Minister Y S Jagan Mohan Reddy (YSJ). A staggering more than Rs 80,000 crore has been allotted to both SC/BC, minority welfare and YSR and YSJ schemes.

The government which claims to be farmer friendly has allotted a mere Rs 11,891 crore or 1 per cent of the entire Budget outlay on the agriculture sector, another one per cent on the healthcare sector or Rs 11,419 crore. The YSRCP ruling probably does know we are in the middle of a pandemic and perhaps the worst economic crisis of our lifetime. Another flagship scheme Aarogyasri, the universal health scheme, has been allocated Rs 2,100 crore. All households with an annual income of less than Rs 5 lakh are eligible to avail the scheme.

The TDP slammed the government saying it lacked vision, no strategic idea or anything concrete in the Budget and it described the hollow approach of the government that was all big talk. No allocations for water, power and roads were made. It lacked a plan to deal with the economic slowdown, inflation or many measures to push employment in the state. The state government seems to have given up developing Amaravati as no mention was made in the Budget. The Budget has not mentioned construction of capital, industrial development or development of backward areas. Further, no measures were announced to revive the economy or accelerate the growth rate or promote and attract private investment or increase efficiency or create jobs in Andhra Pradesh.

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AP budget for 2020-21 estimated at Rs. 2.24 Lakh Cr

AP Finance Minister Buggana Rajendranath Reddy presented a budget for Rs. 2,24,789 Cr for 2020-`21 financial year. It was slightly lesser than last year’s budget of Rs. 2.27 lakh crore. In the present budget, Buggana said there will be revenue expenditure of Rs. 1.80 lakh crore while the capital expenditure is Rs. 44,396 cr. The TDP boycotted Buggana speech one again over denial of scope for debate on the budget in the Assembly.

The highlights of this year’s budget are:

YSR Rythu Bharosa Rs. 3,615 cr
Social welfare Rs. 12,465 cr
Education Rs. 22,604 cr
Agriculture Rs. 11,891 cr
Health Rs. 11,419 cr
BC welfare Rs. 26,934 cr
Energy Rs. 6,984 cr
Civil supplies Rs. 3,520 cr
Finance Rs. 50,703 cr
General administration Rs. 878 cr
Irrigation Rs. 11,805
Jagananna vidya, vasathi deevena Rs. 2,277 cr
ST welfare Rs. 1,804 cr
Transport and R&B Rs. 6,588 cr
Panchayat Raj and rural development Rs. 16,719 cr
Tourism Rs. 273 cr
Women and child welfare Rs. 3,456 cr

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Video: AP Assembly Budget Sessions

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Budget not fulfilling Jagan’s huge promises: TDP

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The Telugu Desam Party has dismissed Budget presented by Buggana Rajendranath Reddy as a just jugglery of figures not meeting the high expectations of the people. The YCP made historically huge promises in its manifesto but there are no corresponding allocations. Jagan promised Arogyasri health care for all treatments above Rs 1000 for all those with income below Rs 5 lakh but only a meager Rs 1740 Cr is allocated for it.

Former Finance Minister Yanamala Ramakrishnudu said that just Rs 6455 cr was allocated for Ammavodi which would require more than Rs 10,000 Cr as there are above 70 lakh students in the state.

YCP promises Rs 3200 Cr for zero-interest loans to farmers but only Rs 100 Cr is provided now which is comparatively very small. There are reduced allocations for the backward classes and minorities. The YCP demanded Rs 18000 Cr for the Kadapa Steel Plant but now after coming to power, it has given just Rs 250 Cr. Strangely, the Budget has nothing to explain how it’s going to implement total prohibition.

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Amaravati gets just Rs 500 cr as welfare dominates

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The first budget presented by Finance Minister Buggana Rajendranath Reddy for Rs. 2.27 lakh crore ran along expected lines. It is welfare, welfare, and only welfare. There are no allocations for any major developmental projects except irrigation. The budget speech read like the full text of YCP Manifesto which lays heavy stress on Navaratnalu welfare programmes for farmers, women and students. The Amaravati Capital City got just Rs. 500 crore with which it would be difficult to complete the already initiated works there.

Analysts say that both the Centre and the State have dealt a strong blow to the Capital City aspirations of Andhras. At the time of separate statehood, leaders of both BJP and Congress said that a capital city greater than Hyderabad and Delhi would be built for the newly created Andhra. But those promises fell flat as is evident from the latest experiences and particularly after the TDP was thrown out of power.

The main highlights of the budget are:
Rs. 8750 cr for YSR Rythu Bharosa
33.10 percent budget for welfare programs
Rs. 6455 cr for Jagananna Amma Vodi
Rs. 4962 cr for Jagananna Vidya Deevena
Rs. 1180 cr for DWCRA zero-interest loans
Rs. 13149 cr for irrigation
Rs. 29329 cr for rural development
Rs. 1.80 lakh cr revenue expenditure
Rs. 1778 cr revenue deficit

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