Over Rs.7,000 crore deficit budget for Andhra Pradesh

Hyderabad, March 12 : A revenue deficit of over Rs.7,000 crore 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 Rs.1,13,049 crore, comprising non-plan expenditure of Rs.78,637 crore and plan expenditure of Rs.34,412 crore.

He told the assembly that the estimated revenue deficit is Rs.7,300 crore and fiscal deficit is estimated at Rs.17,584 crore.

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 Rs.1.11 lakh crore interim budget in August last year for 2014-15.