AP’s Receipts Rs.2.36 Lakh Crore Against Estimated Rs.2.56 Lakh Crore

Vijayawada: Andhra Pradesh has total receipts of ₹2,36,511 crore against the budget estimate of ₹2,56,865 crore for 2023-24.

As per the report on Andhra Pradesh accounts by the principal accountant general (A& E) for 2023-24, AP registered tax revenue from various heads like Goods and Services Tax – ₹45,003 crore, Taxes on Income and Expenditure – ₹29,892 crore, Taxes on Property and Capital Transactions – ₹9,905 crore and Taxes on Commodities and Services – ₹46,833 crore.

The non-tax revenue came from heads like Interest Receipts, Dividends and Profits – ₹1,322 crore, General Services – ₹1,001 crore, Social Services – ₹304 crore and Economic Services – ₹4,805 crore.

With regard to grants-in-aid, AP received ₹14,081 crore from centrally sponsored schemes, followed by ₹9,641 crore from Finance Commission grants and ₹10,980 crore from other grants.

AP’s total tax revenue has been pegged at ₹1,31,633 crore out of which ₹45,711 crore is from state’s share of union tax and ₹85,922 crore from the state’s own tax revenue for 2023–24.

The major components of AP’s revenue expenditure during 2023–24 have been Social Services – ₹97,396 crore, Economic Services – ₹47,014 crore, General Services – ₹38,537 crore and Debt Servicing – ₹29,481 crore, while the capital expenditure is ₹23,330 crore.

With regard to committed expenditure, AP spent ₹52,048 crore on salaries, ₹29,481 crore on interest payment and ₹21,696 crore on pensions.

AP has a public debt of ₹4,15,618 crore while total liabilities have been pegged at ₹4,86,151 crore for 2023–24.

The report noted the misclassification between revenue and capital expenditure during the year 2023–24. AP government incorrectly budgeted expenditure of ₹54.33 crore under capital section, instead of revenue section, as determined from the purpose of expenditure.

Overall grants-in-aid to local bodies and others increased from ₹80,290 crore in 2022–23 to ₹91,248 crore in 2023–24.