The finances and expenditures of Andhra Pradesh in the first nine months of this financial year paint a very worrisome picture. The Revenues of the state were increasing for the last four years but it has registered a fall this fiscal. Till December-end, the state managed 72,322 Crore revenues while it was 83,186 Crore the same time last year.
Total collections till December are at 1,12,779 Crores while at the same time last year, it was 1,20,206 Crore. What is more worrying is the emphasis of the Government on Welfare Schemes ignoring Capital Expenditure. This expenditure is towards the longterm benefits like the creation of infrastructure.
This indicates that the Government is giving more importance to the welfare schemes after routine expenses like Salaries, Pension, Loans, Interests, etc. According to the budget estimates, the Government has to spend 32,293.39 Crore towards the Capital expenditure but in the nine months period, they have spent only 5805.24 Crore which means less than 20%.
During the same time last year, it was the highest in the last four years at 16,555 Crore. YSR Congress Government is saying that welfare schemes are also a new form of Capital Expenditure as they improve the quality of life.Follow Mirchi9 on Google NewsThis Week Releases on OTT – Check ‘Rating’ Filter
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