Welfare schemes get lion’s share in AP’s `2.79L-cr budget
`54,228 crore for DBT of which so far `1.97 lakh crore is distributed during the past four years
Finance Minister Buggana Rajendranath before introducing budget for 2023-24 in the Assembly on Thursday
Vijayawada: With elections just a year away, Andhra Pradesh on Thursday presented the budget with an outlay of Rs 2.79 lakh crore for 2023-24 by laying emphasis on Chief Minister Y S Jagan Mohan Reddy’s flagship Navaratnalu scheme.
Finance Minister Buggana Rajendranath tabled the budget in the Assembly on the third day of the current session, spelling out the government’s priority to the implementation of the welfare agenda. The introduction of the budget was disrupted for sometime due to slogan-shouting and rushing to the well of the House, which subsequently led to the suspension of TDP members K Yerran Naidu and Nandamuri Balakrishna and others on the request of the Chief Minister to Speaker Thammineni Sitaram.
This is the fifth regular budget presented by Rajendranath and the last before the general elections slated for next year.
While stating that poverty eradication is the main priority of the budget, the FM announced an interest free loan of Rs 1,000 crore to DWCRA groups and interest free loans to farmers to the tune of Rs 500 crore.
The salient features of the budget include allocation of Rs 54,228 crore for welfare schemes for disbursement through DBT for which the government has so far distributed Rs 1.97 lakh crore during the past four years. The budget statement discloses a revenue expenditure of Rs 2.28 lakh crore, capital expenditure of Rs 31,061 crore. The projected revenue deficit will be Rs 22,316 crore. The financial deficit will be Rs 54,587 crore accounting for 3.77 per cent of the projected GSDP. The FM has allotted Rs 29,690 crore to education, Rs 21,434 crore to YSR pension scheme, Rs 15,882 crore to health and Rs.11,589 crore to agriculture. Earlier, the State Cabinet chaired by the Chief Minister gave its stamp of approval to the budget.
During the presentation, Rajendranath said “we are moving forward to face the challenges of Covid-19 pandemic and revenue deficit. We are presenting the budget by laying emphasis on priority sectors like education, health and agriculture.”
He said the government has proved once again that implementing the welfare agenda is the topmost in their priority and mentioned how Navaratnalu-the nine welfare schemes promised during the padayatra of the Chief Minister before the elections, is being implemented in letter and spirit despite the challenges posed by the pandemic and other factors.
