AP Budget 2024 Live Updates: Annual Budget of Rs 2.94 Lakh Crores for AP

Major Allocations for Pawan Kalyan's Ministries

The Andhra Pradesh government has made substantial allocations in the state budget for the departments headed by Deputy Chief Minister Pawan Kalyan.

₹16,739 crore for Rural Development and Panchayati Raj

₹687 crore for the Forest and Environment Department

Budget Borrowing Details

The state has decided to borrow ₹91,443 crore this year.

The Andhra Pradesh government estimates a revenue of ₹2,01,000 crore.

It has also indicated that ₹24,498 crore will be allocated for debt servicing.

Key Highlights of AP Budget 2024

The total annual budget stands at ₹2.94 lakh crore.

Revenue expenditure is estimated at ₹2.34 lakh crore.

The fiscal deficit is projected at ₹68,743 crore.

The revenue deficit is expected to be ₹34,743 crore.

₹16,739 crore allocated for Panchayati Raj and Rural Development.

₹16,705 crore for Water Resources.

₹2,326 crore for Higher Education.

₹11,490 crore for Urban Development.

₹3,127 crore for Industries and Commerce.

₹8,207 crore for the Energy sector.

₹8,495 crore for the Police Department.

₹3,907 crore for BC Welfare.

₹4,376 crore for Minority Welfare.

₹7,557 crore for SC Welfare.

₹687 crore for the Forest and Environment Department.

₹4,012 crore for Housing.

₹1,215 crore for Skill Development.

Also read: Pawan Kalyan Skips Cabinet Meeting, Flies to Delhi: Chandrababu Tensed!

Watch AP Assembly Session Live Here

Ongoing AP Assembly Budget Sessions

The Andhra Pradesh Assembly budget session has commenced, with Finance Minister Payyavula Keshav presenting the annual budget of ₹2.94 lakh crore.

The government has projected a revenue deficit of ₹34,743 crore and a fiscal deficit of ₹68,742 crore.

Minister Payyavula Keshav began his speech by pointing out the failures of the previous government, especially in sectors like irrigation and industrial growth.

He emphasized that the current government has taken on the responsibility of reconstructing the state, addressing issues like the lack of a permanent capital and the neglect of crucial sectors under the previous administration.

AP Assembly Session: Additional Insights

The Andhra Pradesh government plans to hold the Assembly sessions for 10 to 15 days, with some absences from the YSR Congress Party (YSRCP). There has been significant political debate surrounding the budget, with the ruling alliance continuing to criticize the previous administration for its inefficiency in key sectors such as water management and infrastructure development.

There is also ongoing criticism of the previous government’s approach to pensions, with many beneficiaries facing cuts or removals from the list, especially under the current regime’s eligibility criteria.

The Assembly sessions are expected to involve intense debates and discussions, particularly focused on the issues raised by the current government regarding the past administration’s economic mismanagement and unfulfilled promises.

Cabinet Discussions and Approvals

A Cabinet meeting under the chairmanship of Chief Minister N. Chandrababu Naidu was held, where ministers gave their approval for the budget.

Finance Minister Payyavula Keshav presented the budget at 10:07 AM in the Assembly.

Other ministers, including the Excise and Mining Minister Kollu Ravindra and Agriculture Minister Achenna Naidu, will present their respective departmental budgets.

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