Andhra Pradesh’s Rs 2.56 lakh crore budget focuses on welfare
Amaravati: Andhra Pradesh Finance Minister Buggana Rajendranath on Friday presented the budget for the year 2022-23 with an outlay of Rs 2,56,257 crore, an increase of 11.50 per cent as compared to year 2021-22, and focuses on welfare. The revenue expenditure has been pegged at Rs 2,08,261 crore while the capital expenditure is estimated at […]
Amaravati: Andhra Pradesh Finance Minister Buggana Rajendranath on Friday presented the budget for the year 2022-23 with an outlay of Rs 2,56,257 crore, an increase of 11.50 per cent as compared to year 2021-22, and focuses on welfare.
The revenue expenditure has been pegged at Rs 2,08,261 crore while the capital expenditure is estimated at Rs 47,996 crore.
The estimated revenue deficit is nearly Rs 17,036 crore, up from Rs 5,000 crore during the year 2021-22, while the fiscal deficit is estimated at around Rs 48,724 crore, up from Rs 37,030 crore.
The fiscal deficit would be nearly 3.64 per cent of the Gross Domestic State Product (GDSP), whereas the revenue deficit will be nearly 1.27 per cent of the GDSP.
Presenting his fourth consecutive budget, the state Finance Minister allocated the lion’s share for social welfare in tune with the policies and priorities of the Y.S. Jagan Mohan Reddy-led government.
Top priority has been given to welfare with an allocation of Rs 45,955 crore to various welfare schemes.
The budget allocated Rs 69,306.74 crore or 27.05 per cent of the total outlay for economic services, Rs 1,13,340.20 crore (44.23 per cent) for social services and the rest for general services.
For education, Buggana Rajendranath has allocated Rs 30,077 crore while for health the amount has been fixed at Rs 15,384, up from Rs 13,830 crore for financial year 2021-22. Children and gender budget was allocated Rs 4,322.86 crore.
The sub-plan for Scheduled Castes has been fixed at Rs 18,518 crore, Scheduled Tribes Rs 6,145 crore, Backward Classes Rs 29,143.65 crore and minorities Rs 3,661 crore.
For the welfare of Economically Backward Classes, the government allocated Rs 6,693 crore, up from Rs 5,478 crore in 2021-22. A provision of Rs 3,537 crore has been made for the welfare of Kapu community.
The budget has allocated Rs 48,802.71 crore for DBT (Direct Benefit Transfer) schemes in 2022-23 as comnpared to Rs 39,615.98 crore during 2021-22.
These include YSR Pension Kanuka (Rs 18,000.90 crore), YSR Rythu Bharosa (Rs 3,900 crore), YSR Aasara (Rs 6,400 crore), YSR Cheyuta (Rs 4,235.95 crore), Amma Vodi (Rs 6,500 crore), Jagananna Vidya Deevena (Rs 2,500 crore), Jagananna Vasati Deevena (Rs 2,083.32 crore), YSR — Pradhan Mantri Fasal Bima Yojana (Rs 1,802.04 crore), YSR interest-free loans to self-help groups (Rs 600 crore), YSR interest free loans to urban self-help groups (Rs 200 crore), YSR interest-free loans to farmers (Rs 500 crore).
The health sector has been allocated Rs 15,384 crore which includes Rs 2,000 for YSR Aarogyasri (free health insurance for poor), Rs 500 crore Nadu Nedu hospitals, Rs 2,462 crore National Health Mission, Rs 753 crore medical colleges, Rs 300 crore YSR Arogya Asra and Rs 170 crore for hospitals in tribal areas.
As much as Rs 2,755 crore was allocated for industrial development, Rs 1,142 crore for infrastructure, roads and buildings, Rs 8,581 crore allocated for transport, roads and buildings department and Rs 10,281 crore for the energy sector.
The state Finance Minister has also made a provision of Rs 236 crore for Visakhapatnam-Chennai industrial corridor.
Later, state Agriculture Minister K. Kanna Babu presented the agriculture Budget for 2022-23 with an outlay of Rs 43,052.78 crore.
The Minister said Rythu Bharosa Kendra, which stood as a game-changer in rural areas and won numerous awards, was allocated Rs 18 crore for this year.
For Rythu Bharosa Pradhan Mantri Kisan Rs 7,020 crore was allocated. The allocation for YSR Corp Insurance was Rs 1,802.04 crore, YSR zero interest crop loans Rs 500 crore, subsidised seeds Rs 200 crore, natural calamities fund Rs 2,000 crore and for investment subsidy to farmers Rs 1,612.62 crore was provided.
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