Andhra Pradesh presents Rs2.94 lakh crore budget for 2024-25

New Delhi [India], November 11 (ANI): Andhra Pradesh's Finance Minister Payyavula Keshav on Monday presented a comprehensive budget for the 2024-25 financial year, with a total expenditure of Rs2,94,427.25 crore.
Minister Keshav highlighted the budget's alignment with the state's vision of "Swarna Andhra@2047" and emphasized the government's dedication to addressing issues inherited from previous administrations.
The proposed expenditure includes Rs2,35,916.99 crore earmarked for revenue expenditure and Rs32,712.84 crore for capital expenditure.
Projected deficits for the fiscal year include a revenue deficit of Rs34,743.38 crore and a fiscal deficit of Rs68,742.65 crore, amounting to 4.19 per cent of the Gross State Domestic Product (GSDP).
Agriculture and allied sectors will get a significant allocation of Rs11,855 crore, demonstrating the government's commitment to rural livelihoods and food security.
Key infrastructure sectors have seen increased funding. The Water Resources Department is allocated Rs16,705 crore, while Rs9,554 crore has been set aside for the Department of Transport, Roads, and Buildings, which includes funds for the State Disaster Mitigation and Response efforts.
The government has prioritized skill development in the budget, with Rs1,215 crore earmarked for the Department of Skill Development and Training, reflecting its focus on workforce readiness and employment growth.
To support industrial growth, the Industries and Commerce Department will receive Rs3,127 crore, while Rs8,207 crore is allocated for the Energy Department to improve the state's energy infrastructure.
Additionally, Rs687 crores have been designated for the Department of Environment, Forest, Science, and Technology, reflecting a balanced approach toward environmental sustainability and technological advancement.
Reviewing recent fiscal trends, Minister Keshav noted that for FY 2022-23, the revenue deficit stood at Rs43,488 crore, with a fiscal deficit of Rs52,509 crore, representing 3.30 per cent and 3.98 per cent of GSDP, respectively.
The revised estimates for 2023-24 project a revenue deficit of Rs38,682 crore and a fiscal deficit of Rs62,720 crore, or 2.65 per cent and 4.30 per cent of GSDP, respectively.
Additionally, the NTR Bharosa Pension Scheme, has been hiked from Rs3,000 per month to Rs4,000 to Rs15,000 per month. Since June 2024, Rs15,218 crore has been disbursed under this scheme, currently benefiting 64.38 lakh pensioners.
The government has also pledged to streamline educational benefits by disbursing Post Matric Scholarships (RTF) directly to colleges, thereby reducing administrative hurdles for students.
Minister Keshav also announced that pending fee reimbursements from the previous administration would also be released in phases to ensure financial support for vulnerable communities, including Mala, Mala Dasari, Mediga, Relli, and Arundhateeya groups.
In line with the government's commitment to inclusivity, substantial allocations have been made for the welfare of marginalized communities.
The Scheduled Castes (SC) component has been allocated Rs18,497 crore, the Scheduled Tribes (ST) component Rs7,557 crore, the Backward Classes (BC) component Rs39,007 crore, and minority welfare initiatives have been allotted Rs4,376 crore.
Additionally, Rs4,285 crore has been allocated for the welfare of women, children, differently abled individuals, and senior citizens, reinforcing the government's social welfare agenda.
Education and healthcare have also received considerable funding to bolster human capital and public health infrastructure. For the year 2024-25, Rs29,909 crore has been set aside for the School Education Department and Rs2,326 crore for Higher Education.
The Department of Health, Medical, and Family Welfare has allocated Rs18,421 crore to support comprehensive healthcare services.
In rural and urban development, Rs16,739 crore has been allotted for the Department of Panchayat Raj and Rural Development, and Rs11,490 crore for the Department of Municipal Administration and Urban Development.
The Housing Department is set to receive Rs4,012 crore, aiming to provide safe and affordable housing to more residents. (ANI)