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Telangana Finance Minister Presents Annual Budget With Rs 2.90 Lakh Crore Outlay
This is Rs 34,000 crore more than the 2.56 lakh crore outlay proposed in the previous budget
Photo Credit : Office of Harish Rao/Twitter
The Telangana Finance Minister T Harish Rao Monday presented the state budget for the 2023-24 financial year, proposing a total outlay of Rs 2,90,396 crore. Rao also proposed a revenue expenditure of Rs 2,11,685 crore and a capital expenditure of Rs 37,525 crore.
According to official information, This is Rs 34,000 crore more than the 2.56 lakh crore outlay proposed in the previous budget. The budget has allocated Rs 7,890 crore for the construction of double bed-room houses for the poor and Rs 15,075 crore for Rythu Bandhu. It also allocates Rs 17,700 crore for the implementation of Dalita Bandhu, a unique scheme extending Rs 10 lakh as financial assistance to each Dalit family without any collateral.
Presenting the budget, the Telangana Finance Minister said, “Both in welfare and development, Telangana is a role model for the entire country. We can rightfully claim that whatever is being implemented in Telangana is being followed by the entire country. ‘Telangana Model’, which combines humanitarian approach, constructive thinking, futuristic planning and transparent administration, is getting accolades, both nationally and internationally.”
Earlier on Sunday, the state cabinet approved the annual financial statement for the upcoming year. It may be recalled that this is the last budget of the Bharat Rashtra Samithi (BRS) government.
Rao proposed an allocation of Rs 36,750 crore towards the Special Development Fund for Scheduled Castes. The government also proposed Rs 15,233 crore towards Special Development Fund for Scheduled Tribes.
The government further proposed Rs 2,200 crore for the welfare of minorities and Rs 6,229 crore for the welfare of backward communities. For farmers’ debt waiver, Rs 6,385.20 crore has been set aside, while Rs 1,589.44 has been allocated for insurance to farmers. From the Rs 7,890 crores set aside for the construction of double bedroom houses.
Rao also proposed an outlay of Rs 31,426 crore for the Panchayati Raj department, Rs 26,885 crore for the irrigation sector, Rs 26,831 crore for the agriculture and cooperation department, and Rs 19,093 crore for the education sector, which includes Rs 3,001 crore for the higher education department.
Further, a sum of Rs 12,727 crore is proposed to be spent on the power sector. For the medical and health sector, the budget proposes Rs 12,161 crore. Rs 11,372 crore is proposed for the department of Municipal Administration and Urban Development, whereas a sum of Rs 9,599 crore is proposed for the Home department. Rs 2,131 crore is proposed to be allocated to the Women and Child Development department.
Rs 2,500 crore has been proposed for the repair and maintenance of roads by the Roads and Buildings department and another Rs 1,471 crore to the Forest department.
The government allocated Rs 1,500 crore to Hyderabad Metro Rail, besides Rs 500 crore towards connectivity to the old city and another Rs 500 crore for the proposed Airport Metro.
The state also proposed to spend Rs 1,000 crore towards promoting oil palm cultivation and, for the first time, to spend Rs 500 crore towards providing basic amenities such as the modernisation of hostels and construction of new university buildings across the state.
Discussions on the budget will begin on February 8 in the session that will conclude on February 12.