Andhra Pradesh Unveils Ambitious Rs 2.94 Lakh Crore Budget

The Andhra Pradesh government presented a Rs 2.94 lakh crore budget for 2024-25, focusing on financial recovery and development. Major allocations include Panchayat Raj, school education, healthcare, and infrastructure. The budget addresses the state's fiscal deficits, emphasizing sustainable urban development and clean energy initiatives.

The Andhra Pradesh government has presented an ambitious budget of Rs 2.94 lakh crore for the 2024-25 fiscal year. Finance Minister Payyavula Keshav stated this move aims to reignite the state's economic engines, countering fiscal challenges and boosting development. The budget outlines a fiscal deficit of Rs 68,743 crore, equivalent to 4.19% of the GSDP.

Key allocations include Rs 16,739 crore for Panchayat Raj and Rural Development, as well as significant funding for education and healthcare. Infrastructure development is also prioritized with Rs 11,490 crore dedicated to urban development and Rs 9,554 crore for roads and buildings, which includes disaster mitigation funds.

The budget reflects the government's commitment to sustainable growth with a new clean energy policy and efforts to revive the state's capital, Amaravati. The session saw opposition from YSRCP, which boycotted the assembly, highlighting longstanding political challenges in Andhra Pradesh.

(With inputs from agencies.)