DY CM Pawan Kalyan with CM N Chandrababu Naidu.
Credit: PTI File Photo
Hyderabad: The Andhra Pradesh government on Monday presented a budget of Rs 2,94,427.25 crore for Financial Year 2024-2025 in the state legislature. Upon assuming power in June, the TDP-led NDA government initially only proposed a vote on account budget.
The finance minister Payyavula Keshav presented a full-fledged budget on Monday in the state assembly, estimating revenue expenditure at Rs 2,35,916.99 crore and capital expenditure at Rs 32,712.84 crore. While the estimated revenue deficit is around Rs 34,743.38 crore, which is 2.12 percent of the GSDP, the fiscal deficit is estimated at around Rs 68,742.65 crore, which is 4.19 percent of the GSDP for the financial year.
Agriculture Minister K Atchen Naidu presented a separate budget of Rs 43,402 crore for agriculture and allied departments.
Among all the departments in the state budget, the Backwards Classes (BC) Welfare Department received the lion’s share of allocation of funds to the tune of Rs Rs 39,007 crore. Around Rs 18,497 crore were allocated for Scheduled Castes (SC) welfare and Rs 7,557 crore for Scheduled Tribes (ST) welfare departments.
While there was no mention about specific allocations, the minister in his budget speech however reiterated the government’s resolve to implement all the 'Super Six' promises made during the polls.
“To fulfill 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 Rs. 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. Our government is fulfilling a Super Six promise by providing financial assistance through Thalliki Vandanam to mothers for their children studying from Class I to Class XII in government and private schools. This scheme aims to ensure that no child has to leave education due to poverty. It will help to drastically reduce the school drop-out rates,” he added.
He found fault with the YSRCP government between 2019 and 2024 for mismanagement of the fiscal position of the state.
“The grim state of affairs between 2019-24 induces a question as to whether the state was run on sound financial principles, or was it run like a profit seeking private enterprise for personal gains? The previous regime was driven only by the concept of private profit. There was looting of natural resources for private profit, causing loss of revenue to the state exchequer by unauthorised mining of natural minerals, followed by deliberately designed sand policy and excise policy for personal gains. While the state finances were declining, the public suffering was rising due to higher taxes and misgovernance. This was compounded by silencing of democratic voices and damaging democratic institutions. This resulted in regime revenge,” said finance minister, Payyavula Keshav.
Notably, the opposition YSRCP had boycotted attending assembly sessions. YSRCP chief YS Jagan Mohan Reddy a few days ago had announced that his party was boycotting the Assembly session as the ruling dispensation refused to recognise his party as the Opposition in the House.