Andhra Pradesh Finance Minister Buggana Rajendranath Reddy.
Andhra Pradesh Finance Minister B Rajendranath estimates the capital expenditure for fiscal 2024-25 at Rs 30,530 crore and pegged the income deficit at Rs 24,758 crore
Andhra Pradesh Finance Minister B Rajendranath on Wednesday tabled a vote-on-account finances of Rs 2.86 lakh crore for fiscal 2024-25 within the Legislative Assembly right here, with a income expenditure of Rs 2.30 lakh crore.
The Finance Minister estimated the capital expenditure for fiscal 2024-25 at Rs 30,530 crore and pegged the income deficit at Rs 24,758 crore.
He projected the fiscal deficit to be round Rs 55,817 crore, which might be 3.51 per cent of the Gross State Domestic Product (GSDP) whereas income deficit could be round 1.56 per cent.
Further, the FM mentioned the state incurred a income expenditure of Rs 2.28 lakh crore within the earlier fiscal (2023-24), together with a capital expenditure of Rs 27,308 crore.
Citing the revised estimates for fiscal 2023-24, Rajendranath mentioned the income deficit was Rs 31,534 crore, together with a fiscal deficit of Rs 60,154 crore.
In phrases of proportion, income deficit amounted to 2.19 per cent of the GSDP whereas the fiscal deficit was 4.18 per cent.
Considering the interim nature of the finances forward of the Legislative Assembly and Lok Sabha elections, Rajendranath didn’t delve into the granular particulars equivalent to division-smart or scheme-particular monetary allocations.
Rajendranath, who introduced the budgets for the previous 5 years in Andhra Pradesh quoted historic figures equivalent to Abraham Lincoln, F D Roosevelt, Mahatama Gandhi and others inspiring personalities in his finances speech to drive residence the message, principally themed on welfare.
He additionally highlighted the YSRCP authorities’s welfare measures up to now 5 years.
The Finance Minister averred that the institution of 15,004 village and ward secretariats has ensured final mile supply of welfare schemes and citizen-centric providers in a seamless and clear method.
Administrative restructuring resulted within the creation of 26 districts from 13 and the rise of income divisions from 52 to 77, he added.
Rajendranath identified that Rs 2.53 lakh crore was spent on direct profit switch (DBT) schemes between 2019 and 2024, together with non-DBT welfare expenditure of Rs 1.68 lakh crore, amounting to Rs 4.21 lakh crore in complete.
“Due to the DBT regime of our government, lakhs of families have escaped poverty, uplifted their standard of living, and availed new opportunities for growth and development.” In his handle, the Minister additionally referred to the quantum of cash spent on varied schemes equivalent to YSR Nethanna Nestham, and others up to now 5 years, together with on infrastructure, ports, power, MSMEs and others.
Earlier, Rajendranath asserted that the welfare of the poor within the state was the principle objective of the vote-on-account finances.
Claiming that Y S Jagan Mohan Reddy was the one CM who regarded the election manifesto as a holy scripture and carried out it, he mentioned, “We could have done more developmental work if not for Covid-19 and a better financial situation.” According to the Finance Minister, the YSRC authorities did greater than what was required for the poor and downtrodden.
In the earlier budgets, Rajendranath underscored that schooling, well being, girls’s empowerment and agriculture got prime precedence.
Earlier, the state Cabinet authorized the vote-on-account finances for 2024-25 below the chairmanship of Chief Minister Jagan Mohan Reddy.
(This story has not been edited by News18 workers and is printed from a syndicated information company feed – PTI)
