A.P. budget this year shifted gears towards all-round progress: Finance Minister Keshav

Blaming YSR Congress Party (YSRCP) for the financial crisis that crippled the State, Finance Minister Payyavula Keshav said that the public debt stood at nearly ₹1.20 lakh crore even after 20 months of the coalition government’s formation. The TDP-led government inherited a mammoth debt of approximately ₹9.74 lakh crore from the YSRCP dispensation in June 2024. 

It had since been a daily struggle for the Finance Department to run the show with meagre revenues on the one hand and a mountain of debt on the other, but the situation improved significantly as the State’s efforts were complemented by the Central support. However, much more remained to be done as the YSRCP government’s policies had a lasting impact, he observed, while cautioning the people against voting for the YSRCP again. 

Giving his reply to the general discussion on Budget 2026-27 in the Legislative Assembly on Thursday, Mr. Keshav said the first budget tabled by him had to clean up the mess created by the YSRCP and the second one just about managed to put the economy back on the tracks. 

The third (the present one) shifted gears towards all-round progress, he claimed, and insisted that continuity of governance was a must for the State to prosper, for which the people should once again vote for the TDP-Jana Sena Party-BJP alliance. The YSRCP rule was characterised by corruption and fiscal profligacy, he remarked. 

Revival efforts

He pointed out that the government revived 85 Centrally Sponsored Schemes which came to a halt due to the YSRCP government’s actions, by contributing its share of ₹18,700 crore. The terms of loan repayment were being renegotiated, and it was expected to yield savings to the tune of ₹2,000 crore per year. Focus was laid on improving the efficiency of systems. Equal priority had been accorded to welfare and development. The fact that social security pensions were being given to 63 lakh beneficiaries every month spoke volumes of the government’s commitment to welfare, he asserted.

Further, Mr. Keshav said due emphasis had been laid on generating employment. Salaries and pensions were being paid before the first of every month. ‘’Focus has been laid on developing Visakhapatnam, Amaravati and Tirupati Economic Regions and the masterplan for the Visakhapatnam Economic Region has been drafted under the expert guidance of NITI Aayog. The Amaravati Economic Region is being studied,’’ he said. 

Projects

Completing the irrigation projects was quite high on the government’s agenda. The Amaravati and Polavaram projects were taken up with renewed vigour. Industrial projects were taking tangible shape wherever lands were allotted, unlike during the YSRCP regime when entrepreneurs fled from the State due to hostile conditions. Mr. Keshav added.