The Andhra Pradesh government would introduce two Budgets where the general Budget would be held by the state finance minister Buggana Rajendranath Reddy and agriculture Budget by East Godavari president K Kannababu
Vijayawada: With just one day left for the commencement of the Andhra Pradesh Assembly budget, state finance minister Buggana Rajendranath Reddy on Wednesday (July 10) claimed that the ruling government is in debt of Rs 3.62 lakh crore and blamed the previous Chandrababu Naidu-led Telugu Desam Party (TDP) for the crisis.
It is reportedly said that the total accounts included Rs 2.58 lakh crore, Rs 58,000 crore off-budget borrowings and dues to government departments.
The minister, who released a white paper on the state finances on Wednesday alleged that the earlier government's financial depravity led to the present mess.
Speaking to reporters, Andhra Pradesh finance minister said, "The financial situation, as it stands today, remains crippled. The present government has commenced its journey with liabilities to GSDP ratio of more than 35%."
The finance minister further spoke about how the Assembly Budget would be organised and under what basis the Budget session would be conducted.
"Implementation of our flagship programmes under Navaratnagalu (a collection of nine schemes focusing on education, pension, farmers, health, etc) is our responsibility. This is not only for welfare, but also for the development of human capital. This is the first programme in India where the incentives directly go to the mother to educate her child. So the budget session will consider all these aspects," he added.
The initiative focuses on the mother receiving the incentive so that the amount deposited into the account is utilised for the child's education. This after reports surfaced that the fathers misused the money deposited into their accounts (mainly on liquor).
Navaratnagalu is the brainchild of Prashant Kishor, the politicial strategist, who worked extensively for the YSRCP during the recent Assembly election in Andhra Pradesh.
According to reports, the session will have 14 working days, and the government would introduce two Budgets. The general Budget would be held by Andhra Pradesh finance minister Buggana Rajendranath Reddy and agriculture Budget by K Kannababu on Friday (July 13). Except for the weekends, the House will function on all the remaining days till July 30.
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