Andhra Revenue Deficit Breaches Budget in H1

Amaravati, Nov 9 (PTI) Andhra Pradesh's revenue deficit has already crossed 140 per cent of the budget estimate, reaching Rs 46,652.41 crore in the first six months of the current fiscal against the projected Rs 33,186 crore for the entire year.

The figures indicate that the state may have to rely heavily on borrowings or Central government assistance to manage its finances.

According to the latest statistics released by the Comptroller and Auditor General (CAG), the fiscal deficit for the April–September period stood at Rs 62,213.17 crore, about 78 per cent of the projected Rs 79,926.90 crore for the 2024–25 financial year.

However, Goods and Services Tax (GST) collections stood at Rs 24,821.18 crore in the first half of the year, representing 43.18 per cent of the budget estimate of Rs 57,477.15 crore for the full year.

Of the total estimated revenue receipts of Rs 2,97,929.16 crore for 2024–25, the state achieved 46 per cent, or Rs 1,37,319.53 crore, including Rs 63,052.19 crore from borrowings and other liabilities during the six-month period.

The state has also spent Rs 11,715.09 crore on capital expenditure during the first half of the fiscal, the CAG data showed.