Andhra Pradesh Unveils ₹2.86 Lakh Crore Interim Budget
Andhra Pradesh Finance Minister Buggana Rajendranath Reddy has presented an Interim Budget of ₹2,86,389.27 crore for the fiscal year 2024-25. The budget, presented in the Assembly on February 7, outlines a revenue expenditure of ₹2,30,110.41 crore and a capital expenditure of ₹30,530.18 crore. The estimated revenue deficit is around ₹24,758.22 crore, with a fiscal deficit projected at approximately ₹55,817.50 crore.
Notably, the fiscal deficit would constitute about 3.51% of the Gross State Domestic Product (GSDP), while the revenue deficit would be 1.56% of the GSDP. The budget also provides insights into the revised estimates for FY 2023-24, with revenue expenditure at ₹2,28,237.77 crore and capital expenditure at ₹27,308.12 crore.
Rajendranath Reddy highlighted the efforts made by the state government in resolving past issues and securing entitlements, including revenue deficit grants and resolution of civil supplies disputes with Telangana. Additionally, the government has obtained approvals for higher revenue deficit grants and revised project costs for critical projects like Polavaram. The budget also includes a vote on account of ₹8,8215 crore for 2024-25, to be utilized until a new government presents a full budget post-Assembly elections.
