Hyderabad: The Andhra Pradesh Legislative Assembly was today adjourned sine die after passing the Appropriation Bill, 2015.
Speaking during the debate on the Bill, Finance Miniter Y Ramakrishnudu, who had said the state will have to avail the overdraft (OD) facility from RBI, said today that the state government has to resort to facilities like OD and ways and means in view of the financial crunch.
The financial burden increased in view of the substantial hike in the salaries of government staff and other commitments, he said.
The Finance Minister had said in his budget estimates for 2015-16 that the estimated revenue deficit is Rs 7,300 crore, while the fiscal deficit is estimated at Rs 17,584 crore.
In his budget speech earlier this month, Ramakrishnudu had pointed out that the successor state of Andhra Pradesh faces severe resource constraints due to the bifurcation.
The state government has been pleading with the Centre to come to its rescue as well as deliver on promises made during Andhra Pradesh's bifurcation last year.
The Union Budget and the 14th Finance Commission did not meet the expectations of the state government, Ramakrishnudu said.
Noting that the state government is trying to improve its revenue, he hoped today that the state's revenue may increase with the implementation of GST regime soon.
Referring to Opposition leader Y S Jaganmohan Reddy's criticism on various economic and development indices on the basis of economic survey, the Finance Minister said the figures were related to last year (when Congress was in power).
He explained that the TDP government has drawn up elaborate and ambitious plans for the state's development.