AP finalises ₹ 2.29L-cr budget for FY22

Vijayawada The budget for Andhra Pradesh was presented in both Houses on Thursday with Governor Biswa Bhushan Harichandan addressing on virtual mode and the main Opposition Telugu Desam Party boycotting the session in protest against restricting it for just one day. Finance Minister Buggana Rajendranath Reddy presented the budget in the Assembly and Home Minister Mekathoti Sucharita tabled it in the Council.

The budget was introduced with an outlay of Rd.2.29 lakh crore. The highlights of the budget include estimated revenue expenditure of Rs. 1.73 lakh crore, revenue deficit restricted at Rs.5,000 crore and fiscal deficit pegged at Rs.37,029 crore.This is the first gender based budget with the education sector being allotted Rs 24,624 crore. The FM proposed an allocation of Rs.3,673.34 crore for industrial and infrastructure development.

Reddy said the budget has earmarked Rs.28,237 crore for BC plan, Rs.3,306 crore for Kapu welfare, Rs.5,478 crore for EBC welfare, Rs.359 crore for Brahmin welfare, Rs.6,131 crore ST sub-plan, Rs.17,403 crore for SC sub-plan, Rs.1756 crore for minority welfare and Rs.16,748 crore for children. Industrialisation

The FM said in his address that AP ranked No. 1 in Ease of Doing Business Survey which reflects the commitment of the government to provide investor-friendly policies, conducive business environment and robust industrial infrastructure to propel the State on the path of rapid industrialisation.

He said the government under the dynamic leadership of Chief Minister Y.S. Jagan Mohan Reddy has announced the best in class policies such as Industrial Development Policy 2020-23, YSR Jagananna Badugu Vikasam for industrial development and is setting up YSR AP One, an end-to-end business fulfilment centre that shall assist investors throughout the investment lifecycle.

In 2020-21, despite the pandemic, these companies are expected to invest Rs. 31,668 crore and create employment opportunities for 67,716 people. The State government is developing Mega Industrial Hub at Kopparthy, Kadapa district in 3,155 acres anticipating an investment of Rs.25,000 crore with a potential to create 2.5 lakh employment.

The government is developing three greenfield airports in the State. Orvakal no-frills greenfield airport has already commenced commercial operations. Land acquisition for the other two airports namely Bhogapuram Greenfield International Airport and Dagadarthi Greenfield Airport is expected to be completed in 2021-22.

The government has announced the launch of Concept Cities to bring a strategic and tactical focus to economic and regional development efforts. It is a unique and inclusive model of economic development led by the private sector and facilitated by the government. In the first phase, three Concept Cities are proposed to be developed in Anantapur, Tirupati and Visakhapatnam, to an extent of 10 sq km each.