The Andhra Pradesh government had mobilized and spent Rs 19,717 crore in the first month of the current financial year. The government has proposed a yearly budget of Rs 37,079 crore. Of this, the government took 53.18 per cent (ie six months debt) in the first month itself, according to the CAG. Last year it was 34.57 per cent.
The CAG, which reviews government accounts every month, reveals the details about income, debt, revenue deficit and fiscal deficit. Andhra Pradesh has also released the latest April figures.
The Center has already made it clear that these figures, which are released by the CAG on a monthly basis, will be taken as the basis for the net credit limit review. Debt incurred in April stood at Rs 3,926.33 crore under public debt and Rs 15,861 crore as another major debt. With a cash reserve of Rs 73.47 crore, the total debt stood at Rs 19,714.04 crore.
Tax revenue fell sharply in April. The complete income from the Center in the type of GST share alongside with tax income, together with non-tax income, was Rs 11,000 crore. At the same time, the state spent Rs 31,311 crore in April. Of the amount that was spent, only 37 per cent was the state’s generated revenue while about 63 per cent were debts and loans.