CM N Chandrababu Naidu took to the social networking platform in order to explain the complete plan of action surrounding AP Budget 2017 – 18. While this year’s budget makes a milestone of sorts being presented from the capital city Amaravati, the new allocation is also a reflection of state government’s commitment to realise all the goals that have been enshrined in Vision 2029.
Here is the CM’s Note
“From Financial Year 2017-18, AP Government is introducing a significant structural reform in the budgetary expenditure classification.
We have decided to classify expenditure as Revenue and Capital instead of Plan and Non-Plan classification. It is an international best practice and an essential ingredient for policy formulation and efficient resource allocation. It will ensure that AP Government lives within its means, balances the budget and reduces the burden of long-term debt.
This is in tune with our long-term objective of being amongst the top three developed States in India by 2022 and, to ultimately achieve the distinction of being the best State in the country by 2029 and the best investment destination in the World by 2050.
For FY2017-18, the expenditure of Rs. 1,56,999 crore, with revenue expenditure at Rs. 1,25,912 crore.”