Andhra Pradesh Budget Analysis 2021-22 Pdf | KeyPoints To Know

Andhra Pradesh Budget Analysis 2021-22 Pdf | KeyPoints To KnowThe Finance Minister of Andhra Pradesh, Mr. Bugganna Rajendranath, presented the Budget for the state for the financial year 2021-22 on May 20, 2021. Note that due to the impact of COVID-19, 2020-21 was not a standard year with respect to the performance of the economy and government finances. In this note, 2021-22 budget estimates have been compared to the actuals for 2019-20 (in terms of compounded annual growth rate or CAGR). Annexure to this note provides a comparison of the revised estimates for 2020-21 and budget estimates for 2021-22.

Andhra Pradesh Budget Analysis 2021-22 Pdf | KeyPoints To Know

Andhra Pradesh Budget Analysis 2021-22 Pdf | KeyPoints To Know

The Gross State Domestic Product (GSDP)
  • The Gross State Domestic Product (GSDP) of Andhra Pradesh for 2021-22 (at current prices) is projected to be Rs 10,61,781 crore.
  • This is an annual increase of 4% over the actual GSDP of 2019-20.
  • The GSDP for 2021-22 is estimated to be 5.1% higher than the revised estimate of GSDP for 2020-21 (Rs 10,19,146 crore).
  • In 2020-21, the GSDP of Andhra Pradesh is estimated to grow by 4% over the previous year.
  • In comparison, the GDP of India at current prices is estimated to contract by 3.8% in 2020-21 and grow by 14.4% in 2021-22.
Total expenditure
  • Total expenditure for 2021-22 is estimated to be Rs 2,29,779 crore, an annual increase of 15% over the actual expenditure in 2019-20.
Total receipts (excluding borrowings)
  • Total receipts (excluding borrowings) for 2021-22 are estimated to be Rs 1,77,247 crore, an annual increase of 24% over 2019-20. In 2020-21, total receipts (excluding borrowings) are estimated to fall short of the budget estimate by Rs 43,433 crore (a shortfall of 27%).
Revenue deficit
  • Revenue deficit for 2021-22 is estimated to be Rs 5,000 crore, which is 0.47% of the GSDP.
  • In 2020-21, as per the revised estimate, revenue deficit is estimated at Rs 34,927 crore (3.46% of GSDP) as compared to a revenue deficit of Rs 18,434 crore (1.82% of GSDP) estimated at the budget stage.
Fiscal deficit
  • Fiscal deficit for 2021-22 is targeted at Rs 37,030 crore (3.49% of GSDP).
  • In 2020-21, fiscal deficit is expected to be 5.38% of GSDP as per the revised estimate, higher than the budget estimate of 4.78% of GSDP.

Andhra Pradesh’s Economy

GSDP:

  • In 2020-21, Andhra Pradesh’s GSDP (at constant prices) is estimated to contract by 2.6% over the previous year.
  • In 2019-20, GSDP is estimated to grow by 7.2%.
  • In 2019-20, per capita GSDP of Andhra Pradesh was Rs 1,29,516 (at constant prices).

Sectors:

  • In 2020-21, agriculture, manufacturing, and services sectors contributed to 33%, 26%, and 41% of the economy.
  • In 2020-21, manufacturing and services sectors registered negative growth.

Unemployment:

  • According to the Periodic Labour Force Survey 2018-19 (July 2018-June 2019), Andhra Pradesh has an unemployment rate of 5.3%, which is lower than the unemployment rate of 5.8% at the national level.
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