synopsis

Buggana Rajendranath, the state's finance minister, presented the state budget. The government stated that it intends to borrow Rs 55,000 crore, with the budget deficit in 2022-23 anticipated to be Rs 48,724 crore.

The administration of Jagan Mohan Reddy presented the Andhra Pradesh Budget 2022-23 on Friday, with a budgeted spending of Rs 2.56 lakh crore and a projected revenue deficit of Rs 17,036 crore. Buggana Rajendranath, the state's finance minister, presented the state budget. The government stated that it intends to borrow Rs 55,000 crore, with the budget deficit in 2022-23 anticipated to be Rs 48,724 crore.

Highlights of the Budget: 

  • A total of Rs 18,000 crore has been set aside for the YSR pension gift.
  • Andhra Pradesh's government awarded Rs. 3,900 crores for YSR Farmer Assurance.
  • The YSR Free Crop Insurance Natural Disaster Fund has been awarded Rs.1802.04 crore. The state government has allocated Rs 2000 crores to the scheme.
  • The Reddy administration has budgeted Rs. 1750 crores for the Rashtriya Krishi Vikas Yojana.
  • Krishiyonnati received Rs 760 crores from the YSRCP government.
  • The government promised to equip farmers with seeds worth Rs 200 crores.
  • A total of Rs 87.27 crores has been allocated towards Zero Based Agriculture
  • The Andhra government has also promised Rs 50 crores for the establishment of Agri Testing Labs.
  • The Andhra government has also proposed to create a Rs 350 crore Special Development Package Fund.

The Finance Minister has set aside Rs 48,802 crore for freebie initiatives, which is more than Rs 800 crore higher than the current year's budget. However, the updated projections imply that the expenditure on freebie initiatives in 2021-22 will be 39,615 crore.

With the next assembly elections only two years away, the administration has proposed establishing a Rs 350 crore Special Development Package Fund, with each MLA receiving Rs 2 crore.

Also Read | Andhra Pradesh Budget 2022-2023: Focus likely on welfare, women empowerment and more

 

Also Read | Kerala Budget 2022-2023: What to expect, focus areas and more

Also Read | Karnataka Budget 2022 updates: Rs 1,000 crore for Mekedatu Project, no hike in taxes

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