The NDA government has decided to present a full-scale state budget in the legislative assembly on November 11. Ahead of this, Chief Minister Chandrababu Naidu held a high-level review meeting to assess the state’s economic conditions, revenue generation strategies, and budget priorities. The meeting included key officials such as Finance Minister P. Keshav, Chief Secretary Neerabh Kumar Prasad, and the principal finance secretary, along with revenue department officers.
This budget will likely address major fiscal priorities, including infrastructure projects, welfare schemes, and revenue mobilization. It’s expected to focus on driving growth in various sectors to meet revenue targets and support sustainable economic progress.
When the NDA government came to power, Chief Minister Chandrababu Naidu reviewed various aspects of the state’s finances, reportedly using the previously issued white paper as a reference. The report highlighted that the state’s revenue for the last fiscal year (2023-24) amounted to ₹1,73,766 crore. During a recent review, the Chief Minister questioned the officials about the potential to reach ₹2 lakh crore in revenue for the current fiscal year, seeking clarity on the state’s revenue status to date.
This goal represents a significant increase, and the review aimed to evaluate whether the current fiscal policies and economic conditions support this target. Revenue trends and potential challenges were key areas of focus as officials assessed the state’s income sources, ongoing fiscal policies, and strategies to achieve this ambitious revenue goal.
Chief Minister Chandrababu Naidu sought input from the Excise, Commercial Taxes, Revenue, and Registration departments to understand the impact of new policies and upcoming decisions on state revenue. The Chief Secretary of Finance, Piyush Kumar, delivered a PowerPoint presentation detailing the current financial situation and the state’s immediate needs over the next five months. This review covered the state of welfare schemes, government priorities, and strategies for bridging the funding gap for essential programs. Additionally, the Chief Minister examined the status of pending bills, discussing ways to manage expenses and support welfare initiatives effectively.
