Andhra Pradesh’s tax revenue up 9 percent, but deficit jumps 803.72 percent

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Amaravati, Jan 14 (PTI) Andhra Pradesh’s tax revenue in the first eight months of FY 2021-22 was Rs 16,372.97 crore higher than the corresponding period of the previous year, the Comptroller and Auditor General (CAG) said, but its revenue deficit was Rs. It rose to an alarming level of 803.72 per cent by the end of November.

According to the CAG report, the revenue receipts of Andhra Pradesh grew by 8.82 per cent to Rs 88,618.58 crore during April-November 2021. Despite this, the state government borrowed Rs 49,570.31 crore, an increase of 133.87 per cent over the budget estimate of Rs 37,029.79 crore for the entire fiscal.

The latest state books of account released by the CAG showed a revenue expenditure of Rs 1,28,805 crore, which includes Rs 13,779 crore as interest payment on loans.

The state spent Rs 61,746.91 crore on welfare schemes in the first eight months of this financial year.

According to the CAG, now the total borrowings and liabilities of the Andhra Pradesh government have reached the level of Rs 6,35,265.63 crore.

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