The YSRCP government introduced the annual budget for 2020-21 in the Andhra Pradesh Assembly today and Finance Minister Buggana Rajendra Nath informed the House that the budget estimates are reduced by 1.4 per cent due to coronavirus.
While Nath introduced the budget in Legislative Assembly, Deputy Chief Minister (Revenue) Pilli Subhash Chandra Bose introduced it in Legislative Council.
Finance Minister said that the government has prepared a welfare budget with an estimated expenditure of Rs 2,24,789.18 crore. The estimated revenue deficit is around Rs 18,434.14 crore and the fiscal deficit is estimated at around Rs. 48,295.58 crore.
"The fiscal deficit will be around 4.78 per cent of the GSDP, whereas the Revenue Deficit will be around 1.82 per cent of the GSDP," he said.
In the Budget the YSRCP government has focused on Direct Benefit Transfer schemes. It has allocated Rs 37,659.05 crore for 18 DBT schemes in the state. The government has allocated Rs 1840.71 crore for ST welfare, Rs 7,525.04 crore for SC welfare, Rs 2,845.60 crore for Kapu community welfare, Rs 23,406.81 crore for BC welfare and Rs 1,998.55 crore for minority welfare.
While Rs 11,891.20 crore is allocated for agriculture, Rs 22,604.01 crore for education and Rs 11,419.48 crore for Health.
( With inputs from ANI )