The report released by the CAG on the AP’s financial situation still looks worrying. The treasury figures are seen contrary to the budget estimates. The CAG has recently released the reports for the end of November. The report revealed that along with the decrease in income, the expenditure has also been recorded as high and the deficit has also been recorded as higher than the estimates.
The deficit seems to be the main thing that is troubling the government. While the revenue deficit was proposed in the budget as high as Rs. 34,000 crores, the actual deficit was recorded as Rs. 56,804 crores by November. That is, it is 163 percent more than the budget estimates and 210 percent more than the same period last year.
The fiscal deficit has also come close to the budget estimates. While it was proposed as Rs. 68,773 crores in the budget, it has already crossed Rs. 65,000 crores by November. It is noteworthy that this is 120 percent more than last year. In the report released by the CAG, if we study the revenue and expenditure, it is estimated that the budget was Rs. 2.69 lakh crores, but only Rs. 1.66 lakh crores were collected by November.
Of this, only Rs 1 lakh crores came from taxes and grants. The remaining Rs. 65,000 crores had to be raised through loans. It seems that the state’s share of central taxes and grants given by the center have decreased significantly. It is noteworthy that while it was estimated that up to Rs. 30,000 crores would come from the center as grants, only Rs. 9,700 crores have been received so far. This is only 32 percent of the total estimates.
While it was estimated that the state’s share of central taxes would come to Rs. 35,000 crores, so far it has come to Rs. 22,000 crores with 62 percent. Only Rs 5,438 crore out of Rs 13,500 crore has reached the treasury through stamp registrations, Rs 32,000 crore out of Rs 52,000 crore through GST, Rs 11,303 crore out of Rs 24,500 crore through sales tax, and Rs 12,154 crore out of Rs 25,597 crore through state excise taxes.
The burden of debt is also weighing heavily on the treasury. In fact, it seems worrying that the debt intended for the entire financial year has been taken in just eight months. It was proposed to raise Rs 68,360 crore as debt in the budget. However, it is noteworthy that Rs 65,590 crore has already been taken. Even with this calculation, only about Rs 3,000 crores are left for the remaining four months.