Amravati: On Monday, the Andhra Pradesh government presented a Rs 2.94 lakh crore budget for 2024-25, with Finance Minister Payyavula Keshav stating that it aims to “restart the state’s financial wheels.” The budget includes Rs 16,739 crore for Panchayat Raj and Rural Development, Rs 29,909 crore for school education, and Rs 18,421 crore for healthcare and family welfare.

While presenting the budget in the Assembly, with just over four months left in the fiscal year, Finance Minister Payyavula Keshav revealed an estimated revenue deficit of Rs 34,743 crore (2.12% of GSDP) and a fiscal deficit of Rs 68,743 crore (4.19% of GSDP) for the 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 while addressing the second session of the Assembly.

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

Highlighting the NDA government’s ambition to eradicate poverty and promote welfare for marginalized communities, the finance minister allocated Rs 18,497 crore for the SC component, Rs 7,557 crore for the ST component, Rs 39,007 crore for the BC component, and Rs 4,376 crore for minorities’ welfare.

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.

(with agency inputs)