AP BUDGET 2024-2025 2,94,427 Cr.

The Andhra Pradesh government presented its budget for 2024-25 on Monday, November 11, 2024, totalling Rs 2.94 lakh crore. Finance Minister Payyavula Keshav introduced the Budget in the State Legislative Assembly, highlighting key allocations to enhance education, healthcare, rural development, and social welfare.
In his speech, Minister Keshav acknowledged the financial challenges the State is grappling with and accused the previous YSR Congress Party (YSRCP) government of mismanaging finances. He criticised the former administration for violating the Fiscal Responsibility and Budget Management (FRBM) guidelines, resulting in excessive debt. According to Keshav, this has severely strained the state’s fiscal health. Citing reports from the Comptroller and Auditor General, he labelled the previous government’s fiscal policies as reckless and assured that the current government is working to stabilise the state’s finances.
Fiscal deficits and economic outlook
For FY 2024-25, the State has projected a revenue deficit of Rs 34,743.38 crore and a fiscal deficit of Rs 68,742.65 crore. The fiscal deficit is expected to be around 4.19% of the State’s Gross State Domestic Product (GSDP), while the revenue deficit stands at 2.12% of GSDP.
Welfare and social justice
In a significant move to support vulnerable sections, Keshav announced a monthly allocation of Rs 4,400 crore for welfare pensions, with the pension amount being increased to Rs 4,000 per month from the earlier Rs 3,000. The government has also set aside funds to revive several schemes that were abandoned by the previous administration, focusing on fast-tracked development. To enhance higher education, Keshav allocated Rs 2,300 crore, while Rs 9,554 crore has been earmarked for the development of roads and buildings.
Infrastructure and economic growth
Minister Keshav reiterated the government’s commitment to boosting economic growth and infrastructure development, aiming to take the state into a “development mode”. Drawing inspiration from the visionary leadership of former Chief Minister Chandrababu Naidu, who also held the finance portfolio in 1996, the government plans to prioritise sustainable development. There will be significant investments in infrastructure and welfare schemes to improve living standards.
The Finance Minister also urged for a hike in the State’s healthcare budget to 6% of GSDP, stressing the importance of strengthening health infrastructure, recruiting adequate staff, and ensuring the availability of essential medicines.
The Budget for FY 2024-25 reflects the Andhra Pradesh government’s focus on social welfare, infrastructure, and fiscal recovery. With an emphasis on social equity, particularly for marginalised communities, alongside strategic investments in health, education, and rural development, the Budget underscores the government’s resolve to address both immediate concerns and long-term growth.