Hyderabad: The new Congress Government in Andhra Pradesh today (June 23, 2004) presented a tax free, farmer-centric Budget for 2004-2005 with a net deficit of Rs 49.91 crore.

Presenting the annual Budget, State's Finance Minister K Rosaiah said the financial year is expected to end with a deficit of Rs 49.91 crore.

In tune with its pro-farmer image, the Congress Government laid focus on agriculture, irrigation, rural, employment and power sectors, which got massive allocations.

"During the financial year 2004-05, it is programmed for an expenditure of Rs 35,934.62 crore under non-plan and Rs 15,207.87 crore under plan. This will result in a revenue deficit of Rs 1,970.50 crore. The fiscal deficit is estimated to be Rs 7,569.99 crore which would be 3.74 per cent of GSDP (Gross State Domestic Product)," he said.

"After taking into account the overall transactions of the year, we will have net deficit of Rs 30.40 crore. The financial year is expected to end with a negative balance of Rs 49.91 crore," the Minister said.

Keeping up the promise of free power to farmers, an additional subsidy of Rs 437.59 crore has been provided while the outstanding arrears of agricultural consumer to a tune of Rs 1,244.40 crore have been waived, Rosaiah said.