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No Additional Taxes in Budget 2016-17

By:  Tupaki Desk   |   8 Oct 2015 5:04 AM GMT
No Additional Taxes in Budget 2016-17
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AP Finance Minister Yanamala Ramakrishnudu hints no additional taxes will be levied in Budget 2016-17 as Government doesn't want to burden the people of the state.

Speaking to media, Yanamala said: "No additional taxes in Budget 2016-17. Clear instructions were given to Finance Department for introducing a people-friendly and development-oriented budget for the next fiscal year".

The Finance Minister asked Finance Department to come up with a Zero-Based Budget with major focus on the seven missions launched by CM Chandrababu Naidu. In Zero-Based Budget, Funds will be allocated to the Departments based on their spending in the previous fiscal year.

AP Government targeted a double digit growth by increasing funds to the seven missions. Scheme-wise Allocation of funds will be done to ensure the work gets done by 2019. After calculating the total expenditure, Allocations will be made in four installments and this should be seen as a cost cutting exercise.