Andhra Pradesh Budget 2022-2023: Focus likely on welfare, women empowerment and more
Last year, the YS Jagan Mohan Reddy administration proposed a Budget with an expected spending of Rs 2.29 lakh crore for 2021-22.
FollowFinance Minister Buggana Rajendranath will deliver the State budget for the fiscal year 2022-23 to the Assembly on Friday. The budget's focus is projected to be on welfare and development, with the majority of funding likely going to Navaratnalu's hallmark programmes such as Nadu-Nedu (education and health), Rythu Bharosa, women empowerment programmes, and housing for the poor. Last year, the YS Jagan Mohan Reddy administration proposed a Budget with an expected spending of Rs 2.29 lakh crore for 2021-22.
As state revenues begin to improve, the amount might be somewhat larger than last year's Rs 2.29 lakh crore. According to the state economy's advance estimates for 2021-22, the overall growth rate was 16.82 per cent at current prices. The per capita income growth rate was 15.87 per cent, as stated by Governor Biswa Bhusan Harichandan in his address to the joint session of the State Assembly and Council on the first day of the ongoing budget session.
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The YS Jagan Mohan Reddy government proposed a Financial for 2021-22 with anticipated spending of Rs 2.29 lakh crore last year; however, the statutory auditor, CAG, discovered apparent flaws in the state's budget management.
In a recent letter to the state government, the Principal Accountant General (PAG) said that a whopping Rs 94,399.04 crore was spent "without any budget allocation" in 124 cases during the first three quarters of the current fiscal year.
According to CAG's accounts up to January 2022 during the current fiscal year, the state government failed to provide required information on borrowings from the public account and guarantees for loans secured by state-owned enterprises. The Jagan Mohan Reddy administration ascribed this to "the current chaotic moment," as the Covid-19 outbreak slowed economic development. He stated that the administration was "adhering to the boundaries" set by the central government and the Fiscal Responsibility and Budget Management rules.
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