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AP State’s Revenue Deficit Woes Get Worse

By   /  June 1, 2016  /  Comments Off on AP State’s Revenue Deficit Woes Get Worse

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If the central government not making any provision in the budget to bridge the revenue deficit of AP state notwithstanding the major revenue generating departments excise and sales tax informed that they could only make Rs 6000 crore – ruling out the target of achieving Rs 12000 crore additionally in 2016-17. This scenario dashes the hopes of Chandrababu Naidu, who was counting on the revenue to trade over the current fiscal crisis.

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Last year AP collected a huge amount of Rs 31,120 crore as sales tax and Rs 12,739 crore from excise, Rs2,128 crore from transport and Rs 1,390 crore from mines – recording an overall growth of 16 percent.  Based on these figures CM Chandrababu Naidu fixed the target for this year at Rs 68,500 crore. Going by the reality the target does look ambitious especially when the economy is under duress. And this may affect the financial condition and the various welfare schemes of AP government.

 

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