Andhra Pradesh Budget 2024: Rs 2.94 Lakh Crore Outlay For FY 2025 - Top Developments

Amaravati: Andhra Pradesh government on Monday presented a budget of Rs 2.94 lakh crore for the year 2024-25 with Finance Minister Payyavula Keshav asserting that it was aimed at "restarting the financial wheels of the state."

The budget allotted Rs 16,739 crore for Panchayat Raj and Rural Development, a portfolio held by Deputy CM Pawan Kalyan, Rs 29,909 crore for school education and Rs 18,421 crore for Healthcare and Family Welfare.

Presenting the budget in the Assembly, when only a little over four months are left in the fiscal, he said the estimated revenue deficit is around Rs 34,743 crore (2.12% of the GSDP) and the fiscal deficit is estimated at around Rs 68,743 crore (4.19% of the GSDP) for the financial year.

"The budget proposals which I am presenting today were made by keeping the state's financial position in consideration and to revive the (state) financially by creating wealth. This is aimed at restarting the financial wheels of the state," said Keshav, addressing the second session of the Assembly in the new NDA government.

The state government presented a budget of Rs 2.94 lakh crore for FY25 with a revenue expenditure estimated at Rs 2.36 lakh crore and capital expenditure at Rs 32,713 crore.

Observing that the ambition of the NDA government of BJP, Janasena and TDP is to eradicate poverty and extend welfare for the marginalised, the finance minister allocated Rs 18,497 crore SC component, Rs 7,557 crore ST component, Rs 39,007 crore BC component and Rs 4,376 crore minorities welfare component.

Allocating Rs 11,490 crore to the Department of Municipal Administration & Urban Development, Keshav said the government is committed towards planned and sustainable urban development.

Further, Keshav highlighted that the 'dream capital city of Amaravati' is taking shape after being abandoned for five years.

Allocating Rs 16,705 crore to the Water Resources Department, he said the N Chandrababu Naidu-led government places highest priority on the irrigation sector and is designing a comprehensive new Water Policy to take water to every possible field.

Similarly, Keshav allocated an amount of Rs 8,207 crore for the Energy Department.

He said a new comprehensive AP (Andhra Pradesh) Integrated Clean Energy Policy 2024 has been notified for promoting sustainability, energy transition and clean energy technologies in the state.

Further, he allotted Rs 9,554 crore to the Department of Transport, Roads and Buildings, which also includes allocations to the State Disaster Mitigation Fund and State Disaster Response Fund.

Highlighting the alleged gross negligence by the erstwhile YSRCP government led by YS Jagan Mohan Reddy in maintaining and repairing roads for five long years, Keshav said reconstruction efforts are underway.

The minister said by the time the previous regime (YSRCP) was out of power, the state's financial position was on the verge of collapse.

Opposition YSRCP boycotted the session today.