The NDA Government led by N Chandrababu Naidu pegged the Budget outlay for the year 2024-25 at ₹2.94 lakh crore.

The State Finance Minister Payyavula Keshav presented his maiden budget in the Assembly in Amaravati on Monday. The revenue expenditure has been pegged at ₹2.35,916 crore and capital expenditure was ₹32,712 crore.

The revenue deficit and fiscal deficit are at ₹34,743 crore and ₹68,742 crore respectively. In terms of allocations, the Budget is a balancing act between the welfare promises made by the NDA in its election manifesto and the developmental needs.

The BC welfare has been allocated ₹39,007 crore, while SC welfare received ₹11,497 crore. School education was on the priority list of the government and ₹29,909 crore has been allocated to it.

The Panchayat Raj and rural development, along with irrigation/water resources, were given priority with ₹16,739 crore and ₹16,705 crore, respectively. Health and urban development have been allocated ₹18,421 crore and ₹11,490 crore.

“Our government is focused on building a conducive environment for industrial growth. New policies have been devised for various sectors to encourage investments, entrepreneurship and employment generation. Our government has brought out AP Industrial Development Policy 4.0; AP MSME Development Policy 4.0; AP Policy for the establishment of Private Industrial Parks,’‘ he said.

PROMISES

The State Government was committed to implementing all welfare schemes under the Super Six promises, despite the financial stress caused by the previous YSR Congress Party government, the Finance Minister said. Funds will be released for the `Talliki Vandanam’ scheme to encourage mothers to send their children to schools, Kesav said, adding that the free travel to women in State-run RTC buses would also be rolled out shortly. 

For the first time in the history of the State, two vote-on-account budgets were presented in the State Assembly for the first eight months of the current financial year. 

While the first vote-on-account budget of ₹2.86 lakh crore was approved by the assembly sanctioning ₹1.09 lakh crore for the first four months of the fiscal before the general elections, the NDA Government which secured the mandate in the elections held in May presented a second vote on the budget for the four months from August to November at the end.

The YSR Congress members including its president and former chief minister YS Jagan Mohan Reddy boycotted the ongoing Assembly session.

The Assembly, which has been adjourned till Wednesday, will be in session till November 22 and is expected to pass various bills on new policies of the State government.