Main Highlights of Finance Minister’s Budget Speech

  • Budget outlay of Rs. 1.13 lakh crore for 2015-16, just 1.1% more than the current year’s size.

  • Rise in plan expenditure to Rs. 34,412crore and capital budget to Rs. 9,818 crore; non-plan expenditure to fall to Rs. 78,976 crore.

  • Huge revenue deficit of Rs. 7,300 crore and fiscal deficit of Rs. 17,584 crore.

  • Tax and non-tax revenues barely sufficient to meet salaries, pensions and non-salary expenditure commitments.

  • 14th Finance Commission did not consider special problems faced by Andhra due to bifurcation.

  • Modest increase in budget size due to poor releases from the Centre.

  • Zero based budgeting based on efficacy, relevance and redesigning of schemes to suit changed times.

  • Reorganisation of State was marked by lack of vision, strategic direction, rampant corruption and failure of governance.

  • Provisions of A. P. Reorganisation Act signify tokenism and may not compensate loss of opportunity for people. Bifurcation left AP without resources for meaningful plan outlay.

  • Per capita income of Rs. 90,517 for 2014-15 at current prices to be doubled by 2018-19.

  • Vision 2029 to make AP No. 1 State in India.

  • Government has launched 7 missions, 5 campaigns and 5 grids to accelerate development and ensure welfare of under-privileged.

  • Allocation for school education increased from 11.26 % to 13.24 % and for health sector from 3.92 % to 5.07 %.

  • Government to come up with comprehensive sub-plan for BCs on the lines of those for SCs and STs.

  • Pattiseema lift irrigation scheme to be taken up in W. Godavari to divert 80 tmcft of flood water to Krishna.

  • Efforts to set up IIM, IIT, IIIT, IISER, NIT, Central University, Petroleum University, National Institute of Disaster Management and Tribal University.

  • 3,168 crore for construction of new capital; developed land (25 per cent) to be returned to owners to make city self-sustaining over the next 3 years.

  • Machilipatnam Port to be developed under PPP mode.

  • National Investment and Manufacturing Zones (NIMZs) to be set up in Chittoor district in an extent of 5,000-6,000 acres.

  • 200 crore allotted in current budget for month-long Godavari Pushkarams starting from July 14.

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