Main Features of budgets of Andhra Pradesh

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Main Features of budgets of Andhra Pradesh 

The fund serve said that the monetary allowance was readied keeping in perspective of the proposed Goods and Services Tax (GST). The financial plan, rather than design and non-design parts, will have income use and capital use.

 

Here are the Budget 2017-18 features:

 

– Total Budget: Rs 1.56 lakh crore

 

– Revenue consumption: Rs 1.25 lakh crore

 

– Capital consumption: Rs 31,087 crore

 

– Allocation for financial administrations is Rs 56,575.53 crore including farming and united administrations (Rs 9,090 crore), country improvement (Rs 19,565 crore), water system (Rs 12,770 crore) and vitality (Rs 4,275 crore)

 

– Allocation for social administrations is Rs 51,268.91 crore including general training (Rs 20,384 crore), welfare (Rs 11,361 crore) and medicinal (Rs 7,020 crore)

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– Rs 49,154.96 crore have been allotted for general administrations

 

– Rs 450 crore for Visakhapatnam, Tirupati and Kakinada for advancement as Smart Cities

 

– Rs 150 crore for 13 urban communities announced as shrewd urban areas by AP government

 

– Rs 200 crore for Anna Canteens

 

– Rs 500 crore for joblessness pay

 

– Rs 1,061 crore for Capital Region Development Authority

 

– Rs 100 crore for fast roundabout sub-urban prepare venture between Vijayawada-Amaravati-Guntur-Tenali

 

– Rs 1,600 crore towards capital implantation for the improvement of ladies and youngsters in country territories

 

– Establishment of maturity homes with a limit of 100 in each at Visakhapatnam, Guntur and Anantapur

 

– Establishment of GhantasalaMusuem in Vijayawada, Bapu Museum, Kakinada Andhra SahityaParishad and Amaravati Heritage Center

 

– Establishment of eight uber nourishment handling parks with open private parternship in Srikakulam, Vizianagaram, Visakhapatnam, East Godavari, Chittoor, Kurnool and Anantapur

 

– Development of Hope Island in Kakinada, Konaseema and Nellore drift as visitor spots

 

– Establishment of AP Industrial Development Corridor

 

– MSME Development Authority to be set up to advance MSME part. Distribution of Rs 125 crore for resuscitating the inadequately performing MSMEs

 

– Rs 97.69 crore for setting up AmbedkarSmritiVanam in Amaravati denoting the 125th birth commemoration festivities of BR Amedkar this year.

 

The Finance Minister of Andhra Pradesh, Mr. YanamalaRamakrishnudu, exhibited the Budget for Andhra Pradesh for monetary year 2017-18 on March 15, 2017.

 

Spending Highlights

 

 Total consumption for 2017-18 is assessed to be Rs 1,56,999 crore, a 18.3% expansion over the changed gauge of 2016-17. In 2016-17, there was a reduction of Rs 2,925 crore (2.2%) in the changed gauge over the spending gauge.

 

 Total receipts (barring borrowings) for 2017-18 are evaluated to be Rs 1,26,968 crore, an expansion of 17.9% over the modified assessments of 2016-17. In 2016-17, add up to receipts missed the mark concerning the planned focus by Rs 2,859 crore.

 

 Revenue deficiency for the following Money related year is focused at Rs 416 crore. Monetary deficiency is focused at Rs 23,054 crore. Essential deficiency is focused at Rs 8,272 crore.

 

 Departments of Water Resources (57%), Rural Development (27%), and Health, Medical and Family Welfare (22%) saw increments in distributions for the year 2017-18. Then again, designation to the Department of Municipal Administration and Urban Development saw a 22% diminishing in assignment in 2017-18.

 

Strategy Highlights

 

agriculture Debt Waiver: Rs 3,600 crore has been distributed for the Agriculture Debt Redemption Scheme. In 2016-17, Rs 3,512 crore was distributed to this plan.

 

 Power: Rs 3,300 crore has been assigned to finance the arrangement of power supply to poor people.

 

 Energy: Four sun powered parks with a limit of 1,000 MW each are to be finished by 2018-19. What’s more, a breeze vitality limit of 5,000 MW will be accomplished by 2018-19.

 

Irrigation: Phase II of the Andhra Pradesh Irrigation Livelihood Improvement Project has been proposed. It will cover the modernization of 20 Major and Medium Irrigation ventures, and the rebuilding of 445 minor water system tanks.

 

 Housing: 1,10,000 houses are proposed to be embraced in 2017-18 under the Affordable Housing Projects. Rs 1,457 crore has been apportioned for lodging under the Pradhan MantriAwasYojana (PMAY) and NTR Rural Housing plans.

 

Spending Estimates for 2017-18

 

 The aggregate consumption in 2017-18 is focused at Rs 1,56,999 crore. The modified gauge for the aggregate consumption in 2016-17 was Rs 1,32,764 crore, which is Rs 2,925 crore lower than the planned focus of 2016-17.

 

 The consumption in 2017-18 is proposed to be met through receipts (other than borrowings) of Rs 1,26,968 crore and borrowings of Rs 30,020 crore. Add up to receipts for 2017-18 (other than borrowings) are relied upon to be Rs 2,859 crore lower than the updated assessments of 2016-17.

 

Shortages, Debts and FRBM Targets for 2017-18

 

The Andhra Pradesh Fiscal Responsibility and Budget Management (FRBM) Act, 2005 gives yearly focuses to dynamically lessen the remarkable liabilities, income shortage and monetary deficiency of the State Government.

 

Income shortfall: It is the abundance of income use over income receipts. An income shortage suggests that the administration needs to acquire to fund its costs which don’t make capital resources. The Budget evaluates an income shortage of Rs 416 crore in 2017-18.

 

Financial deficiency: It is the overabundance of aggregate consumption over aggregate receipts. This hole is filled by borrowings by the administration, and prompts an expansion in all out liabilities of the legislature. In 2017-18, financial deficiency is assessed to be Rs 23,054 crore.

 

Extraordinary Liabilities: It is the aggregation of borrowings throughout the years. In 2017-18, the remarkable liabilities are normal at 28.1% of state GDP.

 

Note that the GSDP gauge for 2017-18 has not been given in the financial plan. With a specific end goal to give appraisals of the income shortfall and monetary deficiency as a % of GSDP, we have figured the GSDPs from the general Population obligation as a % of GSDP, as gave in the Budget in a nutshell archive.,

The budget of Andhra Pradesh is a statement of the government’s financial plans for the coming year. It is prepared by the Ministry of Finance and presented to the Legislative Assembly for approval. The budget is a key document in the government’s economic policy. It sets out the government’s priorities for spending and Taxation. The budget also provides information on the government’s financial position and its plans for the future.

The budget for the financial year 2023-2024 was presented on 26 February 2023. The budget has a total outlay of ₹2,72,735 crore, which is an increase of 12.5% over the previous year’s budget. The budget allocates a significant amount of funds for agriculture, including irrigation, crop production, and Animal Husbandry. The budget also allocates funds for Infrastructure-2/”>INFRASTRUCTURE-development/”>Infrastructure Development, including roads, bridges, and power generation. The budget allocates funds for social welfare programs, including Education, health, and Nutrition. The budget also allocates funds for industrial development, including incentives for new businesses and support for existing businesses. The budget proposes new taxes and increases existing taxes to raise revenue. The budget also proposes to borrow money to finance the government’s expenditures.

The budget has been criticized by some for being too ambitious and for not doing enough to address the state’s Fiscal Deficit. However, the budget has also been praised for its focus on agriculture, infrastructure, and social welfare. The budget is likely to have a significant impact on the state’s economy and Society in the coming year.

The budget allocates a significant amount of funds for agriculture, including irrigation, crop production, and animal husbandry. The budget proposes to spend ₹30,000 crore on irrigation projects, including the construction of new Dams and canals. The budget also proposes to spend ₹15,000 crore on crop production, including the provision of subsidies for Fertilizers and seeds. The budget also proposes to spend ₹10,000 crore on animal husbandry, including the construction of new veterinary hospitals and the provision of subsidies for Livestock feed.

The budget also allocates funds for infrastructure development, including roads, bridges, and power generation. The budget proposes to spend ₹50,000 crore on roads and bridges, including the construction of new highways and flyovers. The budget also proposes to spend ₹20,000 crore on power generation, including the construction of new power Plants.

The budget allocates funds for social welfare programs, including education, health, and nutrition. The budget proposes to spend ₹25,000 crore on education, including the construction of new schools and the provision of scholarships for students. The budget also proposes to spend ₹15,000 crore on health, including the construction of new hospitals and the provision of free medical care for the poor. The budget also proposes to spend ₹10,000 crore on nutrition, including the provision of food subsidies for the poor.

The budget also allocates funds for industrial development, including incentives for new businesses and support for existing businesses. The budget proposes to spend ₹10,000 crore on incentives for new businesses, including tax breaks and subsidies. The budget also proposes to spend ₹5,000 crore on support for existing businesses, including the provision of loans and grants.

The budget proposes new taxes and increases existing taxes to raise revenue. The budget proposes to introduce a new tax on luxury goods, such as cars and jewelry. The budget also proposes to increase the tax on cigarettes and alcohol. The budget also proposes to increase the tax on income.

The budget also proposes to borrow money to finance the government’s expenditures. The budget proposes to borrow ₹10,000 crore from the market. The budget also proposes to borrow ₹5,000 crore from the Reserve Bank of India.

The budget is likely to have a significant impact on the state’s economy and society in the coming year. The budget’s focus on agriculture, infrastructure, and social welfare is likely to boost the state’s economy and improve the lives of its people. However, the budget’s ambitious spending plans and its reliance on borrowing are also likely to lead to higher taxes and Inflation.

Here are some frequently asked questions and short answers about the main features of budgets of Andhra Pradesh:

  • What is the budget of Andhra Pradesh for the year 2022-23?
    The budget of Andhra Pradesh for the year 2022-23 is Rs. 2.26 lakh crore.

  • What are the major highlights of the budget?
    The major highlights of the budget include a focus on agriculture, infrastructure, and social welfare. The budget also proposes to increase the state’s revenue and expenditure.

  • What are the implications of the budget for the people of Andhra Pradesh?
    The budget is expected to have a positive impact on the people of Andhra Pradesh. The focus on agriculture and infrastructure will create jobs and improve the Quality Of Life. The increase in social welfare spending will also benefit the poor and marginalized sections of society.

  • What are the challenges that the government of Andhra Pradesh faces in implementing the budget?
    The government of Andhra Pradesh faces a number of challenges in implementing the budget. These include the need to increase revenue, improve efficiency, and reduce Corruption. The government also needs to ensure that the benefits of the budget reach all sections of society.

  • What are the expectations of the people of Andhra Pradesh from the government?
    The people of Andhra Pradesh expect the government to implement the budget effectively and to deliver on its promises. They also expect the government to address the key issues facing the state, such as POVERTY, Unemployment, and infrastructure development.

  • What are the possible outcomes of the budget?
    The possible outcomes of the budget include an increase in economic Growth, job creation, and improvement in the quality of life. The budget could also lead to an increase in inflation and debt. The long-term impact of the budget will depend on how effectively the government implements it.

The following are the main features of budgets of Andhra Pradesh:

  1. The budget is a statement of estimated revenues and expenditures for a fiscal year.
  2. The budget is prepared by the government and presented to the legislature for approval.
  3. The budget is a tool for planning and managing the government’s finances.
  4. The budget is a statement of the government’s priorities.
  5. The budget is a tool for Economic Development.

Here are some MCQs based on the above features:

  1. The budget is a statement of estimated revenues and expenditures for a fiscal year.
    (a) True
    (b) False

  2. The budget is prepared by the government and presented to the legislature for approval.
    (a) True
    (b) False

  3. The budget is a tool for planning and managing the government’s finances.
    (a) True
    (b) False

  4. The budget is a statement of the government’s priorities.
    (a) True
    (b) False

  5. The budget is a tool for economic development.
    (a) True
    (b) False

The answers are:
1. (a)
2. (a)
3. (a)
4. (a)
5. (a)