look news india
Amravati, 11 November (HS). The Andhra Pradesh government on Monday presented the state budget for the financial year 2024-25. The government has presented a budget of Rs 2.94 lakh crore. Andhra Pradesh Finance Minister Payyavula Keshav presented the first budget of his government in the Assembly today. However, the opposition YSRCP party has boycotted the session today in protest against the budget.
According to the budget speech of Finance Minister Keshav, the revenue expenditure of the Andhra Pradesh government is estimated to be Rs 2.35 lakh crore and the capital expenditure is estimated to be Rs 32 thousand crore. The state's revenue deficit is about Rs 34,743 thousand crore, which is 2.12 percent of the state's gross economy (GSDP). The fiscal deficit is estimated to be around Rs 68 thousand crore.
Finance Minister Keshav said that the budget has been made keeping in mind the financial condition of the state, to make the state financially strong again by creating wealth.
The Andhra Pradesh Assembly session has started with the presentation of the annual budget of Rs 2.94 lakh crore. The budget speech started at 10.07 am today.
Earlier, the cabinet meeting was held in the CM's chamber in the assembly where the cabinet approved the state budget. The Finance Department has prepared the budget with emphasis on drainage, welfare, education and medical sectors.
Finance Minister Payyavula Keshav in his budget speech explained the allocation of funds related to various key sectors. The list of allocations for different sectors is as follows.
# School education Rs 29,909 crore.
# Higher education Rs 2,326 crore.
# Women and child welfare Rs 4,285 crore.
# Human Resource Development Rs 1,215 crore.
# Rs 16,739 crore for Panchayat Raj and Rural Development.
# Rs 18,421 crore for health sector.
# Urban development Rs 11490 crore.
# Housing construction Rs 4,012 crore.
# Rs 9,554 crore for roads and buildings.
# Industry and Commerce Rs 3,127 crore.
# Youth, Tourism, Culture Rs 322 crore.
# Water resources Rs 16,705 crore.
# Rs 687 crore for Environment and Forest Department.
# Energy sector Rs 8,207 crore.
# Rs 8,495 crore for the police department.
Rs 43,402 crore has been allocated for agriculture. It is noteworthy that 62 percent of the state's population is dependent on agriculture. The agriculture budget has also focused on soil testing.
Andhra Pradesh Finance Minister Keshav said that the purpose of this budget is to restart the financial wheels of the state. The Finance Minister blamed the previous YSRCP Jagan Mohan Reddy government for the poor economic condition of the state. Attacking the previous YSRCP government in his speech, the Finance Minister said that by the time the previous government was voted out of power, the financial condition of the state had collapsed and now it is necessary to find ways out of the financial crisis.
Opposition party YSRCP boycotted the session today in protest against the budget.