The government of Andhra Pradesh (AP) on Monday presented a budget of Rs 2.94 lakh crore for the year 2024-25 with Payyavula Keshav, the state finance minister. "The budget proposals, which I am presenting today, were made by keeping the state's financial position in consideration and to revive the (state) financially by creating wealth. This is aimed at restarting the financial wheels of the state," said Keshav, addressing the second session of the Assembly in the new National Democratic Alliance (NDA) government.

Presenting the budget in the Assembly, with four months left in the fiscal, he said the estimated revenue deficit is around Rs 34,743 crore (2.12 per cent of the Gross State Domestic Product (GSDP)) and the fiscal deficit is estimated at around Rs 68,743 crore (4.19 per cent of the GSDP) for the financial year.

The state government presented a budget of Rs 2.94 lakh crore for FY25 with a revenue expenditure estimated at Rs 2.36 lakh crore and capital expenditure at Rs 32,713 crore. The budget allotted Rs 16,739 crore for panchayat raj and rural development, a portfolio held by Pawan Kalyan, the deputy chief minister of the state. A total of Rs 29,909 crore for school education and Rs 18,421 crore for healthcare and family welfare were also allotted.

Observing that the ambition of the NDA government of Bharatiya Janata Party (BJP), Janasena and Telegu Desam Party (TDP) is to eradicate poverty and extend welfare for the marginalised, the finance minister allocated Rs 18,497 crore as Scheduled Castes (SC) component.