Vijayawada, November 11, 2024: The Andhra Pradesh Government on Monday (November 11, 2024) presented its Budget of ₹2.94 lakh crore for the Financial Year 2024-25. Andhra Pradesh Finance Minister Payyavula Keshav, who presented the Budget in the Legislative Assembly, allotted ₹29,909 crore for school education, ₹16,739 crore for Panchayat Raj and Rural Development and ₹18,421 for health and family welfare for financial year 2024-2025.
The Finance Minister in his speech said that raising loans in blatant violation of the Fiscal Responsibility & Budget Management (FRBM) guidelines and other irresponsible policy measures pushed the finances to the brink of disaster. He pointed to the Comptroller & Auditor General reports and commented that it exposed the wrongdoings of the YSR Congress Party Government. “The present government is still working out ways to shore up the finances,” the Finance Minister said as he remarked that the State is on the verge of bankruptcy due to the previous government’s fiscal profligacy.
According to the reports published in thehindu.com Presenting the Budget in A.P. Assembly, Mr. Keshav said that the estimated revenue deficit is ₹34,743.38 crore and the fiscal deficit is estimated at around ₹68,742.65 crore. The fiscal deficit will be around 4.19% of the Gross State Domestic Product (GSDP), whereas the revenue deficit will be around 2.12% of the GSDP.
An appeal has been made to the State Government to consider increasing the Budget on health to 6% of Gross State Domestic Product (GSDP) and allocate funds for health infrastructure, personnel, and medicines.
