Andhra Pradesh's Revenue Deficit touches 900 Percent

February 14, 2022 11:47
Andhra Pradesh's Revenue Deficit touches 900 Percent

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Andhra Pradesh's Revenue Deficit touches 900 Percent:- Andhra Pradesh is struggling for investments and the revenues are shrinking on a regular basis. The state has been struggling to pay the salaries for the employees. The revenue deficit now touched a whopping of 900 percent which never happened. The expenses touched the skies while the revenues are quite low. The revenue deficit of Andhra Pradesh by the end of December is Rs 45,907.65 crores. This is 918.14 percent more than the expectations. The revenues of a state are calculated based on the revenues in the state along with the funds from the Centre. Rs 25,246.19 crores has been granted by the Centre in the last nine months and the total revenue of AP is Rs 97,887.21 crores.

Andhra Pradesh took a debt of Rs 58,111.85 crores in the last nine months which is a record. As per the budget estimations, the state expected debt of Rs 37,029.79 crores but the debts are increased by 156 percent. Rs 69,943.71 crores is the income generated in the state in the last nine months and the debt taken is close to Rs 58,000 crores. The state received a revenue of Rs 23,386.89 crores through the GST collected. Stamps and Registrations Department generated a revenue of Rs 5320 crores. The Revenue Department received Rs 16,637.09 crores and the excise duty gained Rs 9758.68 crores. The state spent most of the revenue on the salaries of the employees which is Rs 31,270.03 crores and the share of the pension is Rs 14,715.85 crores. The Revenue expenses are said to be the highest and they are Rs 67,591.93 crores. The revenue and the debts for AP are said to be Rs 1,56,029.23 crores.

(Video Source: ETV Andhra Pradesh)

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