AP govt presents budget for FY 2021-22, allocates Rs 48,000 crore for freebies

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(Eds; Recasts, changes headline) Amaravati, May 20 (PTI) The Andhra Pradesh government on Thursday presented its annual budget for the financial year 2021-22 and allotted a whopping Rs 48,000 crore towards implementing 22 freebie schemes as the ruling YSRC incorporated a 'gender budget' and 'child budget.' Finance Minister Buggana Rajendranath presented the budget in the state Legislative Assembly after Governor Biswabhusan Harichandan's customary address to a joint sitting of the Council and the Assembly during the one-day session.

Principal opposition Telugu Desam Party (TDP) boycotted the session over YSRP's 'misrule'.

He incorporated a 'gender budget' as well as a 'child budget' this year with an outlay of Rs 47,283 crore and Rs 16,748 crore respectively.

Further, the government earmarked Rs 48,083.92 crore for 22 freebie schemes this year. Three of these schemes that will cost Rs 16,899 crore will be implemented through the State Development Corporation.

The gender budget has further been divided into two components, one of which has an outlay of Rs 23,463 crore to fully cover schemes targeted for women and girls.

The balance outlay will be for composite schemes.

The estimated expenditure according to the budget was Rs 2.29 lakh crore and the estimated revenue was Rs 1.77 lakh crore.

While the estimated revenue deficit was Rs 5,000 crore, the fiscal deficit was estimated to be Rs 37,029 crore.

The state's public debt will mount to Rs 3,87,125 crore in 2021-22 from Rs 3,55,874 crore the previous year as the government targeted to borrow Rs 50,525 crore afresh.

It will spend Rs 23,205.88 crore this year towards debt servicing alone.

Earlier, the Governor delivered his address virtually for the second consecutive year in view of the Covid-19 pandemic.

The principal opposition TDP boycotted the one-day session, in protest against the 'misrule' of the YSRC government.

Subsequently, the budget was passed without any discussion. PTI DBV SA APR ADMINISTRATOR APR ADMINISTRATOR