Andhra Pradesh FM Presents ₹2.79Lakh Crore Budget: Key Highlights of State Budget 2023
Andhra Pradesh FM – State Budget 2023 – taxscan
Andhra Pradesh FM – State Budget 2023 – taxscan
The state budget for Andhra Pradesh, with a total expenditure of Rs 2.79 lakh crore, was presented to the Legislative Assembly on 16th March 2023 by Finance Minister Buggana Rajendranath Reddy at 10 am.
Andhra Pradesh's finance minister prioritised social programmes when he submitted the state's annual budget for 2023–24, which had a ₹2,79,279 billion outlay. He earmarked Rs. 54,228 Crores for various welfare programmes. He stated that Andhra Pradesh is on the top in GSDP in the country.
Key Highlights:
- The Direct Benefit Transfer (DBT) schemes include YSR Pension Kanuka for senior citizens, persons with disabilities and transgender persons.
- Focuses on backward classes in which allocated ₹20,005 crores.
- Allocation of funds for housing of poor people.
- Invests more in the education sector, allocated Rs 29,690 crore.
- Interest free loans to the self-help groups; allocated ₹1000 crore.
- YSR Rythu Bharosa scheme to benefit 52.38 lakh farmer families including tenants and ROFR farmers.
- YSR Aasara scheme for the waiver of outstanding bank loans.
- YSR Sunna Vaddi scheme to promote a culture of timely repayment and also reduce the interest burden on SHGs for all outstanding bank loans up to Rs.3 lakh.
- YSR Law Nestham scheme to support newly graduated lawyers during the initial period of their careers, a stipend of Rs.5,000 per month.
- YSR Cheyutha - Govt. provides a financial assistance of Rs.75,000 over four years i.e., Rs.18,750 per year, to more than 25 lakh women in the age group of 45-60 years, belonging to SC/ST/ OBC/Minority communities.
There is not much new to the budget. Even though the budget amount is big, it was just allocation to the different previously implemented schemes. However, they focused more on backward and minority sections who wanted more attention.
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