Telangana News

Finance Minister Yanamala Ramakrishnudu spoke about the crisis Andhra Pradesh is facing currently.

"While the Revenue Deficit was estimated to be Rs 4,868 crore, but it went up to Rs 14,134 crore now. Whereas, Fiscal Deficit is touching Rs 24,000 crore against estimated Rs 20,497 crore. Post demonetization in November, there is a decline of 7% in AP's revenue in December," he said during the meeting ahead of Budget Session.

For the financial year 2016-17, AP budget stood at Rs 1,35,688 crores. As of now, the government spent Rs 94, 415 crores. Various departments have sought Rs 22,160 crore more than the budget allocations.

The finance minister claims more investments in water resources, infrastructure, energy, capital Amaravati, rural development and panchayat raj have been yielding good results. He, however, terms the declining revenue as an alarming sign and predicts impact on 12.23% growth rate.