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Andhra Pradesh government has pegged the budget outlay for the year 2023-24 at ₹2,79,279 crore, with a lion’s share of allocations going to the flagship welfare schemes being implemented under the Navaratnas.
The Andhra Pradesh government’s Budget outlay for 2022–23 and 2021–22 was ₹2.56 lakh crore and ₹2.29 lakh crore, respectively.
Presenting the Budget for the fifth time in Amaravati on Thursday, the Finance Minister Buggana Rajendranth pegged the revenue expenditure at ₹2,28,540 crore and capital expenditure at ₹31,061 crore.
The revenue deficit works out to ₹22,316 crore, and the fiscal deficit is 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.
“Sustainable development and good and stable governance are the objectives of the government,’‘ Rajendranath said.
In line with the previous budgets, the primacy of allocations to welfare schemes is continued for the next fiscal year.
“All social security and welfare schemes that have been undertaken for 2019-20 will be continued,’‘ the minister said.
Welfare has taken the lion’s share of the budget allocation, with YSR Pensions getting ₹21,434.72 crore and the total Direct Benefit Transfer (DBT) running into ₹54,228.36 crore.
The annual budget showed its commitment to economic empowerment of weaker sections of society by allocating ₹38,605 crore for the BC component, ₹20,005 crore for the SC component, ₹6,929 crore for the ST component, ₹4,887 crore for Kapu welfare, and ₹4,203 crore for minority welfare.
Other key allocations proposed in the budget include Amma Vadi (₹6,500 crore); Mana Badi Nadu Nedu (₹3,500 crore); YSR Bima (₹372 crore); and Municipal Development ( ₹9,381 crore), among others.
The infrastructure facilities in Visakhapatnam would be developed along with the transformation of Tadepally and Mangalagiri as model towns, the minister said.
“Industries and infrastructure are key to the development of the State,’‘ the Minister said, adding that the recent Global Investors Summit held in Visakhapatnam attracted investment proposals worth ₹13.52 lakh crore.
The budget proposed an allocation of ₹3,606 crore for industries and commerce. For the development of roads and transport, ₹9,118 crore have been allocated.
In a tweet, Chief Minister YS Jagan Mohan Reddy,termed the budget “welfare-development oriented,” with education, health, medicare, farmer’s wellbeing, and women empowerment being the core areas, and going ahead with the poverty alleviation programme.
NOISY SCENES
The State Assembly witnessed noisy scenes with opposition members from the Telugu Desam Party (TDP) protesting over the ‘increasing’ loan burden on the State.
The Finance Minister was interrupted soon after he began his budget speech by the TDP members resulting in the Chief Minister YS Jagan Mohan Reddy’s intervention seeking the speaker to “clear these people out”.
Following this, the TDP members were suspended from the house for a day.
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