Andhra Pradesh Finance Minister Payyavula Keshav on November 11 presented a Budget of Rs 2,94,427 crore for the financial year 2024-25. The outlay is about 5.40% higher than the previous year. The budget size for 2023-24 was Rs 2,79,279 crore.
The revenue expenditure is estimated at Rs 2,35,916 crore, and capital expenditure Rs 32,712 crore. The estimated revenue deficit is around Rs 34,743 crore and the fiscal deficit is estimated at around Rs 68,742 crore.
“The fiscal deficit will be around 4.19% of the GSDP, whereas the revenue deficit will be around 2.12 per cent of the GSDP,” he said.
This is the first full-fledged Budget presented by the TDP-led NDA government after it came to power in June this year.
In February, the then YSR Congress government had presented an interim Budget of Rs 2.86 lakh crore.
Presenting his first Budget in the state Assembly, Keshav announced substantial allocation for key sectors.
For school education, he has allocated Rs 29,909 core while the allocation for agriculture and allies sectors stands at Rs 11,855 crore.
For the welfare of Scheduled Castes, the government has allocated Rs.18,497 crore. It earmarked Rs 7,557 crore for the welfare of Scheduled Tribes.
The coalition government proposes to spend Rs 39,007 crore for Backward Classes welfare, Rs 4,376 crore for minorities welfare and Rs 4,285 crore for women and child welfare.
The Finance Minister has proposed an allocation of Rs 1,215 crore for human resources development, Rs 2,326 crore for higher education, Rs 18,421 crore for health, Rs 16,739 crore for panchayat raj and rural development and Rs 11,490 crore for urban development.
The government has proposed an expenditure of Rs 4,012 crore for housing, Rs 16,705 crore for water resources, Rs 3,127 crore for industry and commerce, Rs 8,207 crore for energy, Rs 9,554 crore for roads and buildings, Rs 322 crore for tourism and culture, Rs 8,495 crore for police department and Rs 687 crore for environment, forests, sciences and technology.
For agriculture, a separate Budget was presented by Agriculture Minister K Atchannaidu.