Financial crisis is still haunting the residual state of Andhra Pradesh while the Telangana state is going ahead strengthening its economy.
Telangana Chief Minister K Chandrasekhar Rao’ government has projected Rs 4,500 crore revenue plus in the budget proposals for 2017-18 presented by Finance minister E Rajendar in the Assembly on Monday. The revenue projections are highest ever for TS after the bifurcation of Andhra Pradesh.
KCR claimed his state had achieved 19 percent growth in the tax collection even as the demonetization affected state revenues temporarily. Due to demonetization, the state suffered marginal loss in revenues because of slowdown in land sales.
AP’s Budget 2017-18 that was presented by Finance minister Y Ramakrishnudu gave indication that revenue deficit will still be around 4,600 crore and the state was yet to recover from the revenue deficit after the division. However, the TDP govt. succeeded in reducing revenue deficit from Rs 15,000 crore to Rs 5000 crore this year.
The total budget outlay of AP has been proposed at Rs 1.56 lakh crore whereas the outlay of Telangana was Rs1.49 lakh crore for the new financial year 2017-18 beginning April one in two states.
