Finance Minister Payyavula Keshav formally handed copies of Andhra Pradesh’s latest budget to Chief Minister N. Chandrababu Naidu and Deputy Chief Minister K. Pawan Kalyan.
Unveiled on Monday, the state budget for the fiscal year 2024-25 stands at an ambitious Rs 2,94,427.25 crore, reflecting a decisive shift towards revamping Andhra Pradesh’s finances. Core priorities include bolstering education, healthcare, rural development, and targeted welfare initiatives.
Budget Breakdown
Total Outlay:
Rs 2.94 lakh crore, of which Rs 2,35,916.99 crore is dedicated to revenue expenditure, and Rs 32,712.84 crore to capital expenditure.
- Deficits
- Revenue Deficit: Projected at Rs 34,743.38 crore (2.12% of GSDP).
- Fiscal Deficit: Projected at Rs 68,742.65 crore (4.19% of GSDP).
- Sectoral Allocations
- Education: Rs 29,909 crore earmarked for school education.
- Healthcare: Rs 18,421 crore for healthcare and family welfare.
- Rural Development: Rs 16,739 crore directed to Panchayat Raj and Rural Development, managed by Deputy CM Pawan Kalyan.
- Core Objectives
- The budget seeks to rejuvenate the state’s economic framework, foster wealth creation, and promote broad-based growth.
- Welfare programs are prioritized, particularly for Scheduled Castes (SC), Scheduled Tribes (ST), and Backward Castes (BC).
- Agriculture and Rural Development
- Substantial support for agriculture with Rs 43,402 crore allocated.
- Rs 40 crore dedicated to fertilizer subsidies through Primary Agriculture Societies.
- Agri-mechanization and soil testing initiatives to empower farmers are emphasized.
- Infrastructure Development
- Roads and Buildings: Rs 9,554 crore set aside.
- Urban Infrastructure: Rs 11,490 crore allocated for urban development projects.
- Welfare Allocations
- BC Welfare: Rs 39,007 crore.
- ST Welfare: Rs 7,557 crore.
- Skill Development: Rs 1,215 crore.
- Fiscal Strategy
- Minister Keshav underscored fiscal prudence as essential for restoring economic balance.
- Addressing the financial missteps of the previous administration, Keshav criticized the YSR Congress Party (YSRCP) government’s approach to state finances.
- Fertilizer subsidies, seed distribution, and agriculture advisory remain in focus, with real-time updates on allocations as deliberations unfold.
This budget is widely viewed as pivotal, aimed at economic resurgence through strategic welfare, rural upliftment, and infrastructure development.
published by dailybharat
