Finance Minister Payyavula Keshav presented the budget of Andhra Pradesh to the state assembly for the financial year 2024-25 on Saturday. The total budget is Rs 2,94,427.25 crore. Minister Keshav asserted that the Budget was fine-tuned to the state’s vision “Swarna Andhra@2047” and the issues left behind by the previous governments.
The budget estimates anticipate revenue expenditure at Rs 2,35,916.99 crore and capital expenditure at Rs 32,712.84 crore. But the fiscal year will also see deficits, including a revenue deficit of Rs 34,743.38 crore and a fiscal deficit of Rs 68,742.65 crore, which is 4.19% of the state’s Gross Domestic Product (GSDP).
A large chunk of the budget, therefore, has been allotted to agriculture and rural development. Agriculture will get Rs 11,855 crore with the government laying emphasis on rural livelihoods and food security. Crucial infrastructures also drew much thrust with Rs 16,705 crore allotted to the Water Resources Department. The Department of Transport, Roads, and Buildings will get Rs 9,554 crore, which covers disaster mitigation works.
It has also laid immense emphasis on skill development by allocating Rs 1,215 crore to the Department of Skill Development and Training. This is a pointer to the priority for developing the working population and enhancing employment potential. The Industries and Commerce Department gets an allocation of Rs 3,127 crore for promoting industrial growth. To upgrade the energy infrastructure in the state, the Energy Department gets Rs 8,207 crore.
The budget gives impetus to environment and technology initiatives. Allocating Rs 687 crore to the Department of Environment, Forest, Science, and Technology. For social welfare, the government has increased the NTR Bharosa Pension Scheme. Raising pension amounts from Rs 3,000 to Rs 4,000-15,000 per month. The government as of June 2024 has significantly disbursed Rs 15,218 crore and benefited 64.38 lakh pensioners.
This also includes Rs 18,497 crore for Scheduled Castes, Rs 7,557 crore for Scheduled Tribes, and Rs 39,007 crore for Backward Classes. The budget provides Rs 4,376 crore for minority welfare. And allocates Rs 4,285 crore for the welfare of women, children, differently-abled individuals, and senior citizens.
Additionally, other major allocations were for education and healthcare. As against Rs 29,909 crore for the School Education Department, the amount for Higher Education was Rs 2,326 crore. The government has allocated Rs 18,421 crore to the Health Department to enhance healthcare services. The government is also allocating Rs 16,739 crore towards rural development, while urban development received Rs 11,490 crore.
The budget for 2024-25 also aims to drive growth, develop infrastructure, and promote welfare across every sector.
ANI