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

Blaming the YSR Congress Party (YSRCP) for the financial crisis that has crippled the state, Finance Minister Payyavula Keshav said that even 20 months after the formation of the coalition government, the public debt remains at around 1.20 lakh crore. The TDP-led government has inherited a huge debt of around ₹ 9.74 lakh crore from the YSRCP dispensation in June 2024.

Since then it has been a daily struggle for the Ministry of Finance to run the business with meager revenues on the one hand and a pile of debts on the other, but the situation has improved significantly once the State’s efforts have been complemented by Central support. However, he observed that more needed to be done as the policies of the YSRCP government had a lasting impact and warned the people not to vote for the YSRCP again.

Responding to the general debate on Budget 2026-27 in the Legislative Assembly on Thursday, Mr. Keshav said the first budget he tabled was supposed to clean up the mess created by the YSRCP, while the second one managed to get the economy back on track.

The third (current) claimed to have shifted the gear towards all-round progress and insisted that continuity of administration was a must for the welfare of the State and people should vote for the TDP-Jana Sena Party-BJP alliance once again. He stated that YSRCP rule was characterized by corruption and financial profligacy.

Revival efforts

He pointed out that the government has revived 85 Centrally Aided Schemes, which had come to a standstill due to the actions of the YSRCP government, by contributing its share of ₹ 18,700 crore. Loan repayment terms were being renegotiated and this was expected to result in savings of ₹ 2,000 crore annually. The focus was on increasing the efficiency of the systems. Welfare and development were given equal priority. He asserted that the disbursement of social security stipend to 63 lakh beneficiaries every month is a great indication of the government’s commitment to welfare.

Moreover, Mr. Keshav said that due importance is being given to employment generation. Salaries and pensions were paid before the first day of each month. ”The focus was on development of Visakhapatnam, Amaravati and Tirupati Economic Zones and the master plan of Visakhapatnam Economic Zone was prepared under the expert guidance of NITI Aayog. “Amaravati Economic Zone is being worked on,” he said.

Projects

The completion of irrigation projects was very high on the government’s agenda. Amaravati and Polavaram projects were taken up with renewed vigor. Unlike the YSRCP regime, where entrepreneurs fled the State due to hostile conditions, industrial projects were taking concrete shape wherever lands were allocated. Mr. Keshav added.