VIJAYAWADA: AP finance minister Buggana Rajendranath has presented the Vote-On-Account Budget with an outlay of Rs 2.86 lakh crore for 2024-25 in the Andhra Pradesh Assembly on Wednesday.
Industries minister Gudivada Amarnath presented the same in the Legislative Council.
Rajendranath has put the revenue expenditure at Rs 2,30,110.41 crore and the capital expenditure at Rs 30,530.18 crore. The fiscal deficit is Rs 55,817 crore while the revenue deficit was placed at Rs 24,758 crore.
The fiscal deficit rate is about 3. 51 per cent while revenue deficit rate is 1.56 per cent of the GSDP.
The finance minister said the Global Investor Summit held at Visakhapatnam in March 2023 resulted in the signing of 386 MoUs to bring in Rs 13,11,000 crore by way of investments.
Rajendranath said the finance accounts finalised by the Accountant General of AP showed a revenue deficit of Rs 44,487.49 crore, and a fiscal deficit of Rs 52,508.34 crore, which was 3.30 per cent and 3.98 per cent of the GSDP respectively for FY 2022-23.
The revised estimate for revenue expenditure for FY 2023-24 is Rs 2,28,237.77 crore, whereas for capital expenditure, it is Rs 27,308.12 crore.
The revenue deficit for 2023-24 is around Rs 31,534.94 crore, whereas the fiscal deficit for the same period is around Rs 60,153.59 crore, which amounts to 2.19 per cent and 4.18 per cent of the GSDP respectively, it was stated.
Rajendranth explained that a total of Rs 68,393.31 crore has been allotted under Economic Services, under which Rs 14,236.76 crore was for agriculture and allied sectors, Rs 17,816.04 crore for rural development, Rs 12,038.73 crore for irrigation and flood control. For energy, the figure is Rs 6,595.58 crore; for industry minerals Rs 2,611.00 crore; for transport Rs 10,334.42 crore; for science and technology and environment Rs 16.32 crore and for general eco services Rs 4,744.47 crore.
The FM said that a total of Rs 1,21,509.01 crore was allotted under social services head, in which Rs 33,898.04 crore was for general education, Rs 134.36 crore for sports and youth services, Rs 578.59 crore for technical education, Rs 27.07 crore for art and culture, Rs 17,916.67 crore for medical sector, Rs 2,046.55 for water supply and sanitation, Rs 7,062.84 crore for housing and Rs 9,546.57 crore for urban development.
Rajendranath said Rs 303.38 crore was allotted for I&P, Rs 44,668.97 crore for welfare schemes, Rs 1,114.74 crore for labour and employment and Rs 4,211.22 crore for social security and welfare.
A sum of Rs 96,486.96 crore was proposed for general services.
As for the Budget Estimates 2024-25, the FM explained that an expenditure of Rs 2,86,389.27 crore has been proposed for the 2024-25 fiscal, with the revenue expenditure estimated at Rs 2,30,110.41 crore and capital expenditure estimated at `30,530.18 crore.
The estimated revenue deficit is around Rs 24,758.22 crore and the fiscal deficit Rs 55,817.50 crore. The fiscal deficit will be around 3.51 per cent whereas the revenue deficit will be around 1.56 per cent of the GSDP.
Revenue receipts for the 2024-25 Interim Budget are estimated at Rs 2,05,35,218.63 crore under which the share of central taxes is Rs 49,28,662 crore, tax revenue Rs 1,09,53,799 crore, non-tax revenue Rs 14,40,000 crore and grants-in-aid Rs 32,12,757.63 crore.
The finance minister said Capital Receipts are estimated at Rs 81,03,708.64 crore under which Open Market Loans total Rs 71,00,000 crore, loans from the GOI at Rs 6,16,413.99 crore, other loans at Rs 2,50,000 crore, deposits transactions etc (Net) at Rs 1,36,594.55 crore and loans and advances Rs 00.10 crore.
