Andhra Pradesh Government presents Budget with an outlay ₹2.94 lakh crore
The Hindu
Andhra Pradesh government presents ₹2,94,427.25 crore budget for FY 2024-25, focusing on deficit reduction and welfare schemes.
The Andhra Pradesh Government presented a Budget with an outlay of ₹2,94,427.25 crore for the financial year 2024-25.
Of this, revenue expenditure is estimated at ₹2,35,916.99 crore, and capital expenditure at ₹32,712.84 crore. Presenting the Budget in A.P. Assembly on Monday, Finance Minister Payyavula Keshav said that the estimated revenue deficit is ₹34,743.38 crore and the fiscal deficit is estimated at around ₹68,742.65 crore.
The fiscal deficit will be around 4.19% of the Gross State Domestic Product (GSDP), whereas the revenue deficit will be around 2.12% of the GSDP.
The revised estimate for revenue expenditure for FY 2023-24 is ₹2,12,450 crore, whereas for capital expenditure it is ₹23,330 crore. The revenue deficit for 2023-24 is around ₹38,682 crore, whereas the fiscal deficit for the same period is around ₹62,720 crore, which amounts to 2.65% and 4.30% of the GSDP respectively, he said.
“The finance accounts finalized by the Accountant General of Andhra Pradesh show a revenue deficit of ₹43,488 crore, and a fiscal deficit of ₹52,509 crore, which was 3.30% and 3.98% of the GSDP respectively, for FY 2022-23,” he said.
The Finance Minister, referring to Capital Amaravati, said, “after being abandoned for five years, the dream capital city of Amaravati is taking shape. “Our government has secured funding of ₹15,000 crore from the multilateral funding agencies through Government of India for developing the truck infrastructure in the capital city.”
To fulfil a Super Six promise, our government has launched the Deepam 2 scheme to provide 3 LPG cylinders a year free of cost. An amount of ₹895 crore has been released for the 1st LPG cylinder in 2024-25. More than 5 lakh beneficiaries have already received the subsidy amount. Another promise will be implemented in due course to introduce free travel for women in public transport buses. This initiative is aimed at increasing the participation of women in workforce.
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