The Andhra Pradesh (AP) Government will present its budget in the AP Assembly, on the 5th of July in Andhra Pradesh.
On the 21st of June, Buggana Rajendranath Reddy, the Finance Minister of AP, addressed the media and said, the 2019 AP Budget will be around Rs. 2 lakh crores.
According to Rajendranath Reddy, the budget of AP will be able to fulfill the promises of Y.S. Jagan Mohan Reddy, the Chief Minister of AP.
Rajendranath Reddy said, the officials of the Finance Department studied the financial implications, following which, the Yuvajana Sramika Rythu Congress Party (YSRCP) finalised the manifesto.
Rajendra said, “They (manifesto promises) are not impossible to implement for us. Some of the promises of the previous government would pave the way to the new ones. If there is a deficit in the excise revenue due to prohibition, it also means that households are saving money to that extent and hence, their spending capacity goes up, which further boosts the revenue.”
On the 21st of June, Nirmala Sitharaman, the Finance Minister of India, called for a GST Pre Budget Meet to discuss about the budget of India and its states.
The AP Government’s representative in the budget meet urged the Central Government to release the revenue deficit as soon as possible so that they can plan the budget accordingly.
The Finance Department of AP also requested the Central Government to allocate an amount for pensions and other pending funds of the State. The representative of the AP Finance Department also requested to release funds for natural calamity relief, farmer’s insurance and interest subvention to reduce the burden of AP.
Nirmala Sitharaman will present the Budget of India during the Budget session in the Lok Sabha.
The Budget session of the 17th Lok Sabha is scheduled to be held on the 5th of July, at Parliament House, Delhi.
The 17th Lok Sabha session started from the 17th of June and will continue till the 26th of July.
Stay tuned for further updates.