VIJAYAWADA: The State Government is likely to introduce a full-time budget in November for the financial year 2024-25, as the vote-on-account budget period will conclude by that month. IT and HRD Minister N Lokesh, hinted the same during a press conference in Visakhapatnam on Friday. The Cabinet meeting on October 23 is expected to discuss the budget in detail.
According to sources, Finance Minister Payyavula Keshav has been holding a series of meetings with finance department officials to fine-tune the budget proposals and determine the date to hold an Assembly session for the introduction of the budget. Keshav, who also holds the Legislative Affairs portfolio, is consulting with Assembly Speaker Chintakayala Ayyanapatrudu to finalise the date. Sources added that 2-3 dates are currently under consideration.
The previous government, led by YS Jagan Mohan Reddy, had introduced a vote-on-account budget of Rs 2.86 lakh crore, with Rs 1,09,052 crore approved for the four-month period from April to July in view of general elections.
The new TDP-led coalition government decided to implement another vote-on-account budget, citing the need to address the ‘financial mess’ left by the previous dispensation.
“We need some time to study the financial situation and sort out the details before presenting a full-time budget,” Chief Minister Chandrababu Naidu said in the Assembly while presenting a white paper on the State’s finances in July.
The four-month vote-on-account budget (August to November) was promulgated through an ordinance on July 31. The Andhra Pradesh Appropriation (Vote-on-Account No. 2) Ordinance, 2024, with an outlay of Rs 1.29 lakh crore, covers the period from August 1 to November 30, with grants allocated to 40 government departments.
According to sources, the full-time budget is expected to be around Rs 2.9 lakh crore, with a focus on covering expenditures for the remaining four months (December to March) of the current fiscal year.
Allocations will likely be made for welfare programmes and promises from the election manifesto, including the Super Six guarantees.
