AP Budget 2022-23: Highlights - Andhra Pradesh government proposes expenditure of Rs 2.56 lakh cr

Andhra Pradesh Budget 2022-23: The Andhra Pradesh government on Friday presented the AP Budget for 2022-23. Here are highlights of AP Budget 2022-23:-

-The Andhra Pradesh government on Friday presented the Budget for 2022-23 with a proposed expenditure of Rs 2.56 lakh crore

- Proposed projected revenue deficit of Rs 17,036 crore.

- Finance Minister Buggana Rajendranath presented the ambitious budget although the government fell short of its expenditure estimates in 2021-22 by a whopping Rs 55,182 crore.

- The fiscal deficit in 2022-23 is expected to be Rs 48,724 crore even as the government intends to borrow Rs 55,000 crore.

-The total public debt of the state is projected to shoot up to Rs 4,39,394.35 crore in 2022-23, up from Rs 3,90,670 crore as per the revised estimate for 2021-22.

- This apart, the government stood guarantee for a sum of Rs 1,17,503 crore, borrowed by various state-run entities till December 31, 2021.

- A sum of Rs 21,805 crore has been earmarked for debt servicing in the next financial year.

- For the freebie schemes, the Finance Minister earmarked Rs 48,802 crore, which is more than Rs 800 crore than the current year's allocation. 

- In the revised estimates, though, the expenditure on freebie schemes in 2021-22 has been shown as 39,615 crore.

- The government has proposed creation of a Rs 350 crore Special Development Package Fund, placing Rs 2 crore at the disposal of each MLA.

- "The Fund is for implementing socio-economic development programmes at the constituency level to maximise welfare in line with the local needs and preferences,? Buggana said.

- In line with the NITI Aayog's recommendation that the UN Sustainable Development Goals (SDGs) be integrated with the Outcome Budget Statement Model, the Finance Minister said Andhra Pradesh aimed to become a leader among Indian states in achieving this integration to plan, monitor and evaluate the progress of interventions over a specified timeframe. 

(With PTI inputs)