CURRENT AFFAIRS

Detailed explanation-1: -Yanamala Ramakrishnudu, presented the Budget for Andhra Pradesh for financial year 2017-18 on March 15, 2017. Total expenditure for 2017-18 is estimated to be Rs 1, 56, 999 crore, a 18.3% increase over the revised estimate of 2016-17.

Detailed explanation-2: -Who is a Budget Head? The person who is ultimately responsible for the framing and creation of the budget for a project is known as the Budget Head for that project. The budget itself is a document that lists the expected revenues and expenditures associated with a project.

Detailed explanation-3: -Incumbent Following the cabinet re-shuffling on 11 April 2022, Buggana Rajendranath assumed the office under Y. S. Jagan Mohan Reddy ministry.

Detailed explanation-4: -Revenue expenditure in 2022-23 is estimated to be Rs 2, 08, 261 crore, which is an increase of 20% over the revised estimate of 2021-22 (Rs 1, 73, 818 crore). This expenditure includes the payment of salaries, pensions, interest, and subsidies.

Detailed explanation-5: -In 2017-18, fiscal deficit is estimated to be Rs 23, 054 crore. Outstanding Liabilities: It is the accumulation of borrowings over the years. In 2017-18, the outstanding liabilities are expected at 28.1% of state GDP.