2.6 Lakh crore budget for AP: Confidence or overconfidence?

Due to the constant surge of the COVID-19 cases all over the world, the world countries are being succumbed to severe financial crises and India is one of them. Now, amid these timid situations the AP government is all set to held budget sessions in the assembly and Jagan made it clear that doesn’t care about ‘COVID-19 crisis’ as he set Rs.2,60,000 crores as the budget of AP for the upcoming financial year before Corona and is bounded to the same word now.

This is a major shock to the economic analysts and other politicians. The income that the AP government got in the first three months of this financial year is 70% less than the estimated income due to the COVID-19 effect. The opposition is arguing that this situation prevails throughout the year and how can Jagan prepare the budget of a mere Rs. 2 and a half lakh crores.

Of course, Jagan being aware of the situation, compromised in the lists of people who are eligible for the welfare schemes introduced by his government but on average Rs.80,000 crores need to be spent for the implementation of all these schemes. Already, the AP CM Jagan has announced that the pension amount will be raised by Rs.250 and it is an additional burden.

In addition to all these, the schemes that are not implemented last year like Dwarka Laon waiver, Rs. 75,000 for SC, ST, BC, and Minor women will be implemented in this financial year. ‘The Dwarka Loan waiver’ scheme is the biggest of all with more than a crore beneficiaries in the list. It requires Rs. 12,500 crores at least and to implement this scheme in this budget, it is really a very tough challenge for the YSRCP government.

So, many opine that Jagan should have increased the state budget at least for this year and are quite sure that 2 lakh crores are definitely not enough especially with a long list of schemes waiting to be implemented. So, what do you think? Is it confidence or overconfidence?