Citing CAG data, Jagan claims Andhra's fiscal performance indicates 'distress'
April 2025 fiscal performance indicates further distress
The CAG uploaded the Monthly Key Indicators for April 2025 and these figures bring to light a very disturbing picture regarding the State finances.
On 1st May, the Government made a press release suggesting that the… pic.twitter.com/oGwLzKXzQZ
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The Hindu
8 hours ago
- The Hindu
CAG figures paint a disturbing picture of Andhra Pradesh's finances, says YSRCP president Jagan
YSR Congress Party (YSRCP) president Y.S. Jagan Mohan Reddy has said that the monthly key indicators released by the Comptroller & Auditor General (CAG) for April 2025 bring to light a 'very disturbing picture' of the State's finances. The government claimed on May 1 that the net GST collections for April 2025 were the highest since the introduction of GST at ₹3,354 crore, whereas, technically, the net GST would be subsequent to the making of all adjustments, Mr. Jagan Mohan Reddy said. In fact, as per the CAG figures, the State GST revenues for the first month of FY 2025-26 had contracted to 24.20% when compared with that of April 2024, he said. The government also said the GST revenues were at a record high even in May. It was mentioned in a government release that in April 2025, the Centre had deducted ₹796 crore on account of adjustment of advance apportionment from Integrated GST (IGST) and because of it, GST revenues had come down. Mr. Jagan Mohan Reddy stated that the advance apportionment of IGST would be accounted for under Minor Head 110 and was a part of SGST under Major Head 0006 of the government accounts. The net GST revenues would be arrived at after accounting for all the adjustments. Same was the case even in the previous years. The press release issued by the government on May 1 said that the net GST collections for April 2025 stood at ₹3,354 crore. Now, the government said a sum of ₹796 crore was adjusted. 'One can clearly understand from this that the government is covering up the sordid facts about the GST revenues,' he said. The CAG figures indicated that the trend of economic sluggishness was more pronounced during the first month of FY 2025-26, with the tax revenues registering a decline of 12.21% and non-tax revenues falling by 22.01% over April 2024, he added.
India Gazette
9 hours ago
- India Gazette
India-UK FTA will propel bilateral trade, strengthen supply chains: Jaishankar during meeting with UK Foreign Secretary
ANI 07 Jun 2025, 18:10 GMT+10 New Delhi [India], June 7 (ANI): Noting that the recent conclusion of the India-UK FTA and the Double Contribution Convention is truly a milestone, External Affairs Minister S Jaishankar said on Saturday it will propel two-way trade and investment and contribute to the strengthening of supply and value chains.' In his remarks during a meeting with the UK Foreign Secretary David Lammy, Jaishankar said India practices a policy of zero-tolerance against terrorism and expects its partners to understand this. 'I am pleased to welcome you back to India. We just had a very good meeting with Prime Minister Modi, and I think your visit at this time gives us an occasion to assess our comprehensive strategic partnership, which I believe has strengthened across all sectors in recent times,' he said. 'The recent conclusion of the India-UK FTA (Free Trade Agreement) and the Double Contribution Convention is truly a milestone. It will not only propel our two-way trade and investment but will also have a positive effect on other strategic aspects of our bilateral ties. It would also contribute to the strengthening of supply and value chains,' he added. Jaishankar said India will never countenance perpetrators of evil being put at par with its victims. 'I thank the Government of the United Kingdom for the strong condemnation of the barbaric terrorist attack in Pahalgam in the Union Territory of Jammu and Kashmir and for your solidarity and support to India in the fight against terrorism,' he said. The minister said that the UK-India infrastructure financial bridge can unlock quality long-term capital flows from the United Kingdom to India. 'There's very good collaboration in the education sector with many more universities. I believe planning to establish their campuses in India,' he said. Jaishankar said that people-to-people ties are getting stronger. (ANI)
Deccan Herald
11 hours ago
- Deccan Herald
Citing CAG data, Jagan claims Andhra's fiscal performance indicates 'distress'
April 2025 fiscal performance indicates further distress The CAG uploaded the Monthly Key Indicators for April 2025 and these figures bring to light a very disturbing picture regarding the State finances. On 1st May, the Government made a press release suggesting that the…
