AP presents Rs 2.86L-cr interim budget

Andhra Budget 2024

• Continues spending on health, social infra, agri, education
• Revenue expenditure at Rs 2.30 lakh cr
• Capital expenditure at Rs 30,530 cr
• Fiscal deficit estimated at Rs 55,817 crore
• Revenue deficit at 1.56% of GSDP

Vijayawada: After presenting an interim budget with an outlay of Rs 2,86,389 crore for 2024-25 financial year to allow the new government to present a full-fledged financial plan after the general elections, Andhra Pradesh Finance Minister Buggana Rajendranath said on Wednesday that they have ensured continuity in government spending with focus on welfare programmes in health, social infrastructure, agriculture, rural development and education.

The presentation of the vote-on-account budget after its approval in the State Cabinet chaired by Chief Minister YS Jagan Mohan Reddy at Velagapudi near here was marred by uproar in the Assembly with the Opposition TDP MLAs trying to disrupt the proceedings by rushing to the well of the House and throwing torn papers on the Speaker’s podium in protest against failure to complete Polavaram project, implement job calendar, ensuring comprehensive crop insurance to the farmers and for indulging in wasteful expenditure.

When pleas by Speaker Thammineni Sitaram to restore order in the House failed, he subsequently suspended 10 TDP MLAs from the House for a day. The interim budget was presented in the Legislative Council by Industries Minister Guidavada Amarnath.

TDP State president K Atchan Naidu said the YSRCP government had failed to implement welfare schemes in true letter and spirit and is trying to hoodwink people by indulging in empty rhetoric. He said development in the State has retarded after YSRCP formed the government in 2019. Other parties including Jana Sena, BJP, CPI and CPI (M) have also described the budget as ‘disappointing.’

The FM, who felt proud for the opportunity to present the budget for the fifth time in a row, put the revenue expenditure at Rs 2.30 lakh crore. An allocation of Rs 30,530 crore has been made for capital expenditure. The fiscal deficit is estimated at Rs 55,817 crore. Revenue deficit in GSDP is shown as 1.56 per cent compared to 3.51 per cent fiscal deficit in GSDP.

The FM said under the dynamic leadership of Chief Minister Jagan Mohan Reddy, they have implemented various welfare schemes as enshrined in the Navaratnalu. The interim budget laid emphasis in continuing the good work with renewed vigour and commitment,

he stated. In his address, Buggana said they have found new methods to find solutions to the problems faced by the State with emphasis on e-governance and service at the doorsteps of the people at the grassroots through decentralisation. He said strengthening the government from the village level, reorganising the administrative machinery and vesting powers with the people have remained their priorities during the past four and half years. He said one of their major achievements was setting up 15,004 ward secretariats with 1.35 lakh employees. Volunteer system has been introduced with 2.66 lakh people to provide transparency and faster delivery of various services. He said the YSRCP Government is also credited with creating one district for each parliamentary constituency for effective decentralisation. The Minister underlined the need for concerted efforts to resolve issues pertaining to Centre-State relations and the State’s bifurcation like rightful revenue deficit grants and resolution of pending issues with neighbouring States.

Speaking on economic initiatives, the FM said the government’s proactive policies led to investments in key sectors, infrastructure projects like port and airport development and reiterated their focus on fostering sustainable growth and creating opportunities for job creation and economic prosperity.