Jagan government presents Rs 2.79 lakh crore Budget; welfare receives lion's share

The Chief Minister termed the budget as welfare-development oriented

Andhra Pradesh Finance Minister Buggana Rajendranath Reddy presented the state budget with an outlay of Rs 2.79 lakh crore for the financial year 2023-2024.

In his budget speech in the AP assembly at Amaravati on Thursday, Buggana said that “Chief Minister Jagan Mohan Reddy's vision is entwined in the welfare agenda with an enhanced social security system, more thrust on economic uplift of farmers, women empowerment and handholding of weaker sections.”

The state would go to assembly polls, to be held simultaneously with the general elections, in April-May next year.

Welfare is allocated the lion’s share with YSR Pensions provided Rs 21,434 crore and the total Direct Benefit Transfers (DBT) running into Rs 54,228 crore.

The Chief Minister, in a tweet, termed the budget as "welfare-development oriented with education, health, medicare, farmer well-being and women empowerment being the core areas.”

In the education sector, Amma Vodi is given Rs 6,500 crore while Jagananna Vidya Deevena, Jagananna Vasathi Deevena, Jagananna Vidya Kanuka and Mana Badi Nadu-Nedu are allotted Rs. 2,841 crore, Rs 2,200 crore, Rs 560 crore and Rs 3500 crore respectively.

Finance Minister allotted Rs 15,882 crore for Medical, Health and Family welfare, Rs 15,873 crore for Panchayati Raj and Rural Development, Rs 9,381 crore for Municipal and Urban Development, Rs 6700 crore for YSR Asara, Rs 5000 crore for YSR Cheyuta and Rs 1600 crore for YSR-PM Bima Yojana.

Coming to economic empowerment of weaker sections, Rs 38,605 crore is allotted for BC component, Rs 20,005 crore for SC component, Rs 6,929 crore for ST component, Rs 4887 crore for Kapu welfare and Rs 4,203 crore for minority welfare.

"The revenue expenditure is pegged at Rs 2.28 lakh crore while the capital expenditure is estimated to be Rs 31,061 crore. The revenue deficit works out to Rs 22,316 crore and the fiscal deficit placed at Rs 54,587 crore. The fiscal deficit would be 3.77 per cent of GSDP while revenue deficit would be 1.54 per cent of GSDP," officials said.

While Industry and Commerce is given Rs 2602 crore, YSR Rythu Bharosa got Rs 4,020 crore.

“The Rs 5600 crore allotment for housing for the poor will boost up the construction sector across the state, while tourism, culture and youth development will get a facelift with the allotment of Rs 1291 crore.”

Other Budget Allocations:

YSR Netanna Nestham Rs. 200 crore
YSR Kalyanamasthu Rs. 200 crore
YSR Kapu Nestham Rs. 550 crore
YSR Vahana Mitra Rs. 275 crore
YSR Law Nestham Rs. 17 crore
Jagananna Chedodu Rs. 350 crore
Jagananna Thodu Rs. 35 crore
Zero interest loans for farmers Rs. 500 crore
Matsyakara Bharosa Rs. 125 crore
Diesel subsidy for fishermen Rs. 50 crore
Compensation for farmers’ families Rs. 20 crore
EBC Nestham Rs. 610 crore
Gadapa Gadapaku Mana Prabhutvam Rs. 532 crore