Hyderabad: Expressing discontent over dwindling rupee and steep economic slowdown showing its adverse effect on all sectors, Telangana Chief Minister K Chandrasekhar Rao on Monday presented a trimmed budget of Rs 1.46,492.30 crore for 2019-20 fiscal in the assembly.
Of the proposed budgetary expenditure, revenue expenditure has been put at Rs 1,11,055.84 crore and the capital expenditure Rs 17,274.67 crore. The budget estimates pegged the revenue surplus at Rs 2,044.08 crore and the fiscal deficit at Rs 24,081.74 crore.
In February, Rs 1,82,017 crore was shown as expenditure in the vote on account budget. The Chief Minister had presented the vote on account showing a revenue expenditure of Rs 1,31,629 crore and a capital expenditure of Rs 32,815 crore.
However, the government has decided to formulate the budget based on a change in scenario due to economic slowdown and ground realities, Rao, who presented the budget in the Assembly, said.
KCR, on the other hand, vowed to continue his flagship welfare programs. He said Rs 12000 crore has been allotted for welfare schemes where half of it will be spent for farm loan waiver.
“We are trying to end corruption, we’ve policies for the speedy delivery of services to people in villages with Rs 399 Cr every year,” KCR said. He claimed that despite the slowdown, the state has doubled its wealth from 4.2 percent to 10.5 percent. The Chief Minister said his government’s priority is for welfare, agriculture, irrigation and other key sectors.
KCR also accused the Centre of failing to provide additional funds to Telangana causing severe loss to the state. The Chief Minister said he has a proper plan of action for the development of farmers, poor and weaker sections at rural level.
Rao, who said Rythu Bandhu and Rythu Bhima will continue, allocated Rs 1137 crore for payment of insurance premiums for farmers.
He said that people aged above 57 will get old-age pension and allotted Rs 9042 crore for Aasara pension scheme.
(With inputs from PTI)
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