Hyderabad, Nov 20 (UNI) The Andhra Pradesh Government has succeeded in taking appropriate measures to eliminate revenue deficit, build up revenue surplus and contain fiscal deficit to three per cent, two years ahead of stipulation by the Fiscal Responsibilty and Budget Management Act (FRBMA), according to the Comptroller and Auditor General.
The CAG report tabled in the Assembly today said during 2006-07 revenue receipts were Rs 44245 crore while revenue expenditure was Rs 41,438 crore. ''As a result, revenue deficit was eliminated during the year and and surplus of Rs 2,807 crore was built up''.
''The fiscal deficit was also contained at a sustainable level.
The fiscal deficit created primary surplus of Rs 1636 crore'', it said, adding that fiscal deficit decreased by Rs 25 crore over previous year mainly due to increase receipts and better recovery of loans and advances. The decrease in fiscal deficit, also resulted in primary surplus of expenditure.
The capital expenditure (Rs 9904 crore) increased by Rs 2,564 crore over the previous year and the lion's share of it was obserbed by Irrigation and Flood Control Department.
During the year, assets grew by Rs 11,837 crore and liabilities grew by Rs 7140 crore, it said, noting that despite better asset formation during the year, 27 per cent of liabilities had no asset backing.
The outstanding fiscal liabilities were Rs 86,622 crore which was 33.32 per cent of Gross State Domestic Product, it said.
As against total budget provision of Rs 68349.67 crore, the expenditure was Rs 57387.05 crore, it said, adding that however, there was excess expenditure of Rs 198.71 crore under seven grants and one appropiration requiring regularisation by the Legislature.