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Andhra Pradesh government is likely to retain focus on welfare schemes in the upcoming budget for the year 2024-25 while being cautious in other allocations.
As 2024 general elections’ notification is expected to be released next month, the State government is also planning to commence the budget session before February 10, according to official sources.
Keeping in line with the focus on welfare programmes, the allocations for the Flagship welfare programmes, Navaratnas, will continue to get primacy in the upcoming vote on account budget,
As for the preliminary estimates, the total outlay is expected be increased by 10 to 15 percent compared to 2023-24, though the Chief Minister Y S Jagan Mohan Reddy is expected to take a final call on this shortly.
Budget outlay
Andhra Pradesh government has pegged the budget outlay for the year 2023-24 ₹2,79,279 crore, with a lion’s share of allocations going to the flagship welfare schemes being implemented under the Navaratnas.
The revenue expenditure was at ₹2,28,540 crore while capital expenditure was projected at ₹31,061 crore. The revenue deficit was worked out ₹22,316 crore and the fiscal deficit was placed at ₹54,587 crore. The fiscal deficit would be 3.77 percent of GSDP, while the revenue deficit would be 1.54 percent of GSDP.
The budget outlay for 2022–23 and 2021–22 was ₹2.56 lakh crore and ₹2.29 lakh crore, respectively.
In his sixth budget presentation for the next fiscal, Finance Minister Buggana Rajendranath is likely to highlight the progress made by the State in the last five years from a broader perspective by comparing it with the previous five years of 2014-19 when the Telugu Desam Party (TDP) was in power.
“Given the political climate and different allegations on increasing public debt and other vital economy numbers, all departments are working on giving clear numbers to showcase the efforts and the State goverment and its focus on welfare,’‘ a senior official said.
The vital data on expenditure on welfare schemes and employment generation has already been sent by the Finance Department to the Chief Minister, it is learnt.
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