What to expect from Andhra Pradesh Legislative Assembly budget 2024-25?

The Andhra Pradesh Legislative Assembly’s budget session began today with Finance Minister Payyavula Keshav presenting the state’s budget for the fiscal year 2024-25.

This was Keshav’s first budget since he assumed office, and is expected to focus on welfare and development schemes. The government is likely to prioritise the “Super Six” initiatives, which include allocations for pensions, the Deepam 2.0 program, and Anna Canteens, all aimed at supporting the state’s most vulnerable populations.

A key area of the budget will be infrastructure development, with funding set aside for major projects in irrigation, road maintenance, and the Polavaram project. Provisions for the capital city’s development will also be a focal point. Additionally, there will be a special emphasis on industrial development, with allocations for essential infrastructure to foster business growth in the state.

The budget will also address rural employment by increasing allocations for the National Rural Employment Guarantee Act (NREGA). This is part of the government’s larger effort to create job opportunities and improve the livelihoods of rural populations.

The state budget for 2024-25 is set at Rs 2.94 lakh crore, with Rs 2.35 lakh crore allocated for revenue expenditure and Rs 3,271.84 crore for capital expenditure. The fiscal deficit is expected to reach Rs 68,742.65 crore, and a revenue deficit of Rs 34,742.38 crore is also anticipated.

Sector-wise, significant funds are earmarked for Panchayat Raj and Rural Development at Rs 1,673.9 crore, Water Resources at Rs 1,670.5 crore, Urban Development at Rs 1,149 crore, and Higher Education at Rs 232.6 crore. Other allocations include Rs 312.7 crore for Industries and Commerce, Rs 820.7 crore for Energy, and Rs 849.5 crore for the Police Department.

The government has also made provisions for social welfare schemes aimed at marginalised communities. These include substantial allocations for BC, Minority, and ST Welfare, totaling Rs 1,583.8 crore. Additionally, the government is investing in skill development programs with Rs 121.5 crore set aside for the initiative.