Andhra Pradesh News

Andhra Pradesh presents Rs 1.57 lakh crore budget

The budget has been designed for the Goods and Services Tax (GST) regime, which is expected to come into force with implications for the state sometime after July.

Published: 15th March 2017 02:36 PM  |   Last Updated: 15th March 2017 02:40 PM   |  A+A-

By Express News Service

VIJAYAWADA:  Finance minister Yanamala Ramakrishnudu presented nearly Rs 1.57 lakh crore budget for 2017-18, in the new capital of Amaravati on Wednesday.  He proposed an increase of 15.71 per cent in the outlay over the previous year.

The finance minister said that the budget was prepared keeping in view of the proposed Goods and Servies Tax (GST). The budget, instead of plan and non-plan components, will have revenue expenditure and capital expenditure.

Here are the Budget 2017-18 highlights:

- Total Budget: Rs 1.56 lakh crore

- Revenue expenditure: Rs 1.25 lakh crore

- Capital expenditure: Rs 31,087 crore

- Allocation for economic services is Rs 56,575.53 crore including agriculture and allied services (Rs 9,090 crore), rural development (Rs 19,565 crore), irrigation (Rs 12,770 crore) and energy (Rs 4,275 crore)

- Allocation for social services is Rs Rs 51,268.91 crore including general education (Rs 20,384 crore), welfare (Rs 11,361 crore) and medical (Rs 7,020 crore)

- Rs 49,154.96 crore have been allocated for general services

- Rs 450 crore for Visakhapatnam, Tirupati and Kakinada for development as Smart Cities

- Rs 150 crore for 13 cities declared as smart cities by AP government

- Rs 200 crore for Anna Canteens

- Rs 500 crore for unemployment compensation

- Rs 1,061 crore for Capital Region Development Authority

- Rs 100 crore for high speed circular sub-urban train project between Vijayawada-Amaravati-Guntur-Tenali

- Rs 1,600 crore towards capital infusion for the development of women and children in rural areas 

- Establishment of old age homes with a capacity of 100 in each at Visakhapatnam, Guntur and Anantapur

- Establishment of Ghantasala Musuem in Vijayawada, Bapu Museum, Kakinada Andhra Sahitya Parishad and Amaravati Heritage Centre

- Establishment of eight mega food processing parks with public-private parternship in Srikakulam, Vizianagaram, Visakhapatnam, East Godavari, Chittoor, Kurnool and Anantapur

- Development of Hope Island in Kakinada, Konaseema and Nellore coast as tourist spots

- Establishment of AP Industrial Development Corridor

- MSME Development Authority to be established to promote MSME sector. Allocation of Rs 125 crore for reviving the poorly performing MSMEs

- Rs 97.69 crore for establishing Ambedkar Smriti Vanam in Amaravati marking the 125th birth anniversary celebrations of BR Amedkar this year.

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