Hyderabad, September 10: Telangana Chief Minister K. Chandrasekhar Rao yesterday presented the state annual budget for the year 2019-20. The budget seems to have been downsized to Rs.1 lakh 46 thousand 492 crore rupees.
The Chief Minister presented the full-fledged Budget in the Legislative Assembly on Monday morning. He said the government had to consider the financial crisis which is looming large around the country and forced to take practical decisions. The proposed expenditure for 2019-20 declined to ₹1,46,492.30 crore from ₹1,82,017 crore. Of the ₹1,46,492.30 crore, revenue expenditure is ₹1,11,055.84 crore and the capital expenditure is ₹17,274.67 crore. This is 19.5% less than the vote on account he presented ahead of polls.
The CM further added that the government could raise additional funds through sale of government lands that were freed from the land-grabbers due to the legal fight by the government. Several cases pending in the courts were also cleared and the government could get back its rightful ownership of land worth thousands of crores of rupees. The lands would be sold in a phased manner and the funds would be transferred to the Special Development Fund and to use them to meet any contingency arising in any department for meeting the needs of the people.
K. Chandrasekhar Rao also said that the State’s Gross Domestic Product (GSDP), which stood at Rs 8,65,688 crore for the financial year 2018-19, had more than doubled since Telangana's formation. “By the financial year 2018-19, the GSDP growth in Telangana State had increased two and half times and stood at 10.5%,” he said in his speech. Telangana’s GSDP grew at 15% for financial year 2018-19, up from 14.2% in 2017-18.
The CM made it clear that the agriculture and welfare sectors will continue to be priority of the Government. He assured people in his hour long budget speech that the government will make all out efforts to fulfill the assurances given during elections. The budget is formulated based on the facts and realities as they exist today with a revenue surplus of ₹2,044.88 crore while the fiscal deficit is ₹24,081.74 crore, he stated.
The Chief Minister said that the state government's welfare programmes would continue; from the Rythu Bandhu, which was allocated Rs 12,000 crore, to the Aasara Pensions, which saw an allocation of Rs 9,402 crore. Rs 8,000 crore was allotted for the Free power given to the farm sector.
'Aarogyasri' scheme is the unique feature of Telangana Government. The CM said that through Arogyasri, the state government is spending Rs 1,336 crore per year, benefitting 85.34 lakh families in the state. From the Centre’s Ayushman Bharat scheme, it is possible for the state to provide medical benefits to the extent of Rs 250 crore per year, benefiting 26 lakh families.