Welfare schemes being implemented despite fall in revenue: Buggana
The Hindu
‘TDP crippled the State finances with abnormal borrowings and left a huge pile of debts’
Despite fall in revenue due to COVID-19, the Andhra Pradesh government has not gone back in implementing welfare schemes, said Finance Minister Buggana Rajendranath Reddy. “During the previous government, Compound Annual Growth Rate (CAGR) between 2014-19 was 10.03%, whereas with the COVID effect, between 2019-21, only 1.3% has been registered, which resulted in a loss of ₹7,947.07 crore. During the first lockdown between April-May 2020, nearly ₹4,709.24 crore revenue loss occurred and also expected revenue fall during 2021-22,” said Mr. Rajendranath Reddy.
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