Andhra Pradesh Unveils Rs 2.94 Lakh Crore Budget For FY25, Aims To Revitalise Economy
Date
11/11/2024 2:11:07 PM
(MENAFN- KNN India)
Amaravati, Nov 11 (KNN) Andhra Pradesh Finance Minister Payyavula Keshav presented the state's annual budget of Rs 2,94,427.25 crore for the fiscal year 2024-25 in the Assembly on Monday.
The budget outlines a revenue expenditure of Rs 2,35,916.99 crore and capital expenditure of Rs 32,712.84 crore.
The state's financial blueprint projects a revenue deficit of Rs 34,743.38 crore, accounting for 2.12 percent of the Gross State Domestic Product (GSDP).
The fiscal deficit is estimated at Rs 68,742.65 crore, representing 4.19 percent of the GSDP.
In his budget address, Keshav emphasised that the proposals were crafted with careful consideration of the state's financial position, aiming to revitalise the economy and 'restart the financial wheels of the state.'
The Finance Minister also expressed concerns about the state's fiscal health under the previous YSRCP administration, stating that the financial position was near collapse when their term ended.
Key allocations in the budget include Rs 16,739 crore for Panchayat Raj and Rural Development, a department overseen by Deputy Chief Minister Pawan Kalyan.
The education sector received significant attention with Rs 29,909 crore earmarked for school education, while healthcare and family welfare were allocated Rs 18,421 crore.
(KNN Bureau)
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