The Government of Andhra Pradesh (AP) led by Chief Minister (CM) N Chandrababu Naidu presented the Budget for the Financial Year 2024-25(FY25) at Rs 2.94 lakh crore. Payyavula Kesav, AP’s Finance Minister, presented his 1st budget in the Assembly in Amaravati, AP.
- The revenue expenditure has been pegged at Rs 2,35,916 crore and the capital expenditure was Rs 32,713 crore.
- CM N Chandrababu Naidu announced that welfare pensions were increased to Rs 4000 per month from Rs.3000 per month.
Points to note:
i.The revenue deficit and fiscal deficit are at Rs 34,743 crore and Rs 68,742 crore respectively.
ii.The fiscal deficit will be around 4.19% of the Gross State Domestic Product (GSDP), and the revenue deficit will be around 2.12% of the GSDP.
Key Allocations:
i.Rs 11,855 crore has been allocated for agriculture and allied sectors and an amount of Rs 8,207 crore for the Energy Department.
ii.An allocation of Rs 4285 crore is proposed for women, children, differently abled, senior citizens welfare.
iii.The Backward Classes (BC) welfare has been allocated Rs 39,007 crore while the Scheduled Caste (SC) welfare got Rs 11,497 crore.
iv.Rs 29,909 crore has been allocated for the development of School education.
v.The Panchyat Raj and rural development and Irrigation/water resources were allocated with Rs 16,739 crore and Rs 16,705 crore.
vi.The Health and urban development were allocated Rs 18,421 crore and Rs 11,490 crore respectively.
vii.A separate agriculture budget was presented with an outlay of Rs 43,402 crore.
viii.Rs 9,554 crore has been allocated to the Department of Transport, Roads and Buildings, which also includes allocations to the State Disaster Mitigation Fund and State Disaster Response Fund.
ix.The budget has also notified a new comprehensive AP (Andhra Pradesh) Integrated Clean Energy Policy 2024 for promoting sustainability, energy transition and clean energy technologies in AP.
Recent Related News:
The World Bank (WB), in collaboration with the Asian Development Bank (ADB), has approved an inprinciple loan of Rs 15,000 crore to Andhra Pradesh (AP) for developing Amaravati as its capital city.
- A letter confirming the loan has been sent to India’s Ministry of Finance(MoF), with final discussions scheduled for November 8, 2024 and the agreement expected to be signed by 15th November 2024.
About Andhra Pradesh(AP):
Chief Minister(CM)– N. Chandrababu Naidu
Governor– Sayed Abdul Nazeer
Wildlife Sanctuary– Kaundinya WildLife Sanctuary; Penusila Narasimhaswamy wildlife sanctuary; Kambalakonda WildLife Sanctuary
Zoological Park– Indira Gandhi Zoological Park; Sri Venkateswara Zoological Park
