State Finance Minister Aanam Ramanarayana Reddy on wednesday presented a budget for Rs 1,28,542 crore for the financial year 2011-12, projecting a revenue surplus of Rs 3,826 crore and a fiscal deficit of Rs 17,602 crore.

This is about Rs 15,000 crore more than last year\'s budget estimate of Rs 1.13 lakh crore. This is the fourth consecutive year that the state\'s budget has been pegged at over Rs one lakh crore, despite the actual realisations falling way short of the projections.

This was Ramanarayana Reddy\'s maiden budget. The Finance Minister said in his budget speech that the state economy is likely to grow by 8.89 per cent in the year 2010-11, notwithstanding the heavy rains and floods which have adversely impacted the farming and allied sectors.

He said the Gross State Domestic Product at current prices is estimated at Rs 5.65 lakh crore while per capita income during 2010-11 is estimated at Rs 60,224.

Published Date : Thursday, 24/2/2011 2:23 PM IST