AP Govt presents tax-free surplus budget

Hyderabad, Feb 19 (UNI) Substantially stepping up allocation for irrigation and housing among other sectors, Andhra Pradesh Finance Minister K Rosaiah today presented in the State Assembly a tax-free Rs 80,996.60 crore budget with a revenue surplus of Rs 25.01 crore.

The Finance Minister allocated Rs 13,002 crore for irrigation, an increase of 30 per cent and Rs 4,793 crore for the housing sector, a whooping hike of 328 per cent over the previous year.

Describing development and welfare as two sides of the same coin, Mr Rosaiah enhanced the allocation for the education sector to Rs 823 crore, a 45 per cent hike from the previous year. About Rs 759 crore was given for the health sector, an hike of 42 per cent.

He also earmarked Rs 2,277 crore for rural development, Rs 1,842 crore for urban development, Rs 1,462 crore for the welfare sector and Rs 1,877 crore for infrastructure development in the budget with programmed expenditure of Rs 48,023.43 crore under non-plan and Rs 32,973.17 crore under plan to end the year with revenue deficit of Rs 36.48 crore, 0.01 per cent of Gross State Domestic Product.

Estimating the fiscal deficit at Rs 8620.64 crore or three per cent of the GSDP, the Finance Minister said. ''After taking into account the overall transaction for the year, we will have a net surplus of Rs 25.01 crore. The financial year is expected to end with negative balance of Rs 33.08 crore.'' The state ended last fiscal with a revenue deficit of Rs 53.54 crore against budgeted revenue deficit of Rs 995.84 crore. The overall transactions for 2006-07 was estimated to result in a net surplus of Rs 30.81 crore. After taking into account, opening negative balance of Rs 88.90 crore, the year-end balance was estimated to be negative at Rs 58.09 crore, he added.

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