AP Finance Minister tables budget of Rs 2.86 lakh crore, Cabinet nod for new colleges

Amaravati: Andhra Pradesh Finance Minister B Rajendranath on Wednesday tabled a vote-on-account budget of Rs.2,86,389.27 (Rs 2.86 lakh crore) for fiscal 2024-25 in the Legislative Assembly here, with a revenue expenditure of Rs.2,30,110.41 (Rs 2.3 lakh crore).

The Finance Minister estimated the capital expenditure for fiscal 2024-25 at Rs 30,530 crore and pegged the revenue deficit at Rs.24,758.22.

The Interim Budget 2024-25 will be a vote-on-account that will authorise the government to spend certain sums of money till a new government comes into office after the April-May Assembly elections.

The Government presented a vote on account Budget of ₹8,8215 crore for 2024-25. The amount would be utilised until the new government presents a full Budget after the Assembly elections.

The FM noted that the fiscal deficit would be around Rs 55,817 crore, which would be 3.51 per cent of the GSDP while revenue deficit would be around 1.56 per cent.

Earlier, Rajendranth said the welfare of the poor in the state is the main goal of the vote-on-account budget.

The Finance Minister claimed that Y S Jagan Mohan Reddy was the only Chief Minister who regarded the election manifesto as a holy scripture and implemented it. "We could have done many more developmental works had there been no Covid-19 and a better financial situation," said Buggana.

According to the Finance Minister, the YSRCP government did more than what is required for the poor and downtrodden and that it gave importance to the sections of people who cannot fend for themselves.

In the previous budgets, Rajendranath underscored that education, health, women's empowerment and agriculture were given top priority.

Earlier, the state Cabinet approved the vote-on-account budget for 2024-'25 under the chairmanship of Chief Minister Jagan Mohan Reddy.

Cabinet gave nod for new colleges:

The Cabinet meeting chaired under Andhra Pradesh Chief Minister YS Jagan Mohan Reddy gave a nod for:

1. Establishment of a new Horticultural Food Processing Polytechnic College in Doan, Nandyala district. This will be functioning under Dr. YSR Horticulture University.

2. Establishment of an Agricultural Polytechnic College with a two-year diploma course in agriculture at Doan in Nandyala district. The Agriculture Polytechnic College will be functioning under Acharya NG Ranga Agriculture University.

3. By amending the Andhra Pradesh Private Universities (Establishment and Regulation) Act, 2016, approval was given of three private universities.

4. The Cabinet approved the establishment of Annamacharya University at Rajampet in Annamaya district, Godavari Global University at Rajamahendravaram in East Godavari district and Aditya University at Surampalem in Kakinada district.