Budget disappointing: YSRCP

Dubbing the union budget for 2015-16 as disappointing YSR Congress has said that there was no specific assurance to the State but is loaded with policies, promises and committees with an effort to present a rosy picture of the economy while the figures state otherwise.

“While the budget allocation will be progressive with every passing year, it has coming down this year and projection of 8 % growth rate cannot be comprehended as the budget for the year is less than the previous year (ten months) figure,” party leader DA Somayajulu told reporters in Hyderabad on Saturday.

There is no mention of allocation of funds to the capital formation of Andhra Pradesh which is a total disappointment.
While the total budget for 10 months for the year 2014-15 was 17, 94, 892 crores for the full year of 2015-16 the figure fell down to Rs 17, 76,000 crores which is a signal that the growth rate being projected cannot be arrived at. The budgetary allocations for 2014-15 are still unspent till December in terms of current plan expenditure and capital expenditure, he said.
Despite the tall talk, the growth rate estimated is not possible to achieve. The many policies, promises and committees including GST should be studied, he said.