Ekiti State governor, Dr Kayode Fayemi, on Monday, presented a budget proposal of N74.7 billion to the state House of Assembly for the 2011 fiscal year.

The budget, which was entitled, “Budget of Renewal,” has N40 billion, representing 55 per cent, for capital expenditure, while N30 billion, representing 45 per cent, was proposed as recurrent expenditure.

The economic sector, which incorporates agriculture and rural development, small and medium-scale enterprises, will gulp N3.7 billion.

A sum of N9.4 billion, representing 22.68 per cent of the budget, was earmarked for the social sector, which has education, health, information and social development, while environmental development sector would gulp N8.7 billion, which  represents 21.5 per cent of the vote.

Fayemi explained that key sectors like agriculture, job creation, infrastructural development, health care delivery, education, housing, public transportation, social security for the underprivileged, internal security, tourism and workers’ welfare would receive  adequate attention in the budget.