Main Features Of Budgets Of Telangna

 

Main Features Of Budgets Of Telangna

Telangana presented a tax-free, revenue surplus budget for 2017-18, proposing an expenditure of Rs 1,49,446 crore, an increase of 14.59 percent over the previous year.

The budget estimates for 2017-18 indicate a revenue surplus of Rs 4,571 crore and a fiscal deficit of Rs 26,096 crore.

The development and welfare oriented budget in the new format in accordance with the guidelines issued by the central government. The plan and non-plan expenditure classification has been replaced with capital and revenue expenditure.Main Features Of Budgets Of Telangna

The state coined ‘maintenance and scheme expenditure’ for the two new heads.

Information technology department gets Rs 252.89 crore in the budget.

Rs 1000 crore allocated for Greater Hyderabad Municipal Corporation

The estimated maintenance expenditure is estimated at Rs 61,607 crore while expenditure for schemes is pegged at Rs 88,038 crore.

The budget allocated Rs 14,375 crore for the welfare of Scheduled Castes, Rs 8,165 crore for Scheduled Tribes, Rs 5,070 crore for backward classes and Rs 1,249 crore for minorities.

With irrigation remaining top priority, the Finance Minister allocated Rs 23,675 crore for the sector.

The allocation for agriculture was Rs 5,943 crore.

Rs 4,000 crore as the third and final instalment for waiver of farm loans.

The budget allocated Rs 12,705 crore for education, Rs 5,976 crore for health, Rs 1,939 crore for fee reimbursement, Rs 5,033 crore for road development, Rs 5,599 crore for urban development and Rs 14,723 crore for Panchayati Raj.

For the Telangana Rashtra Samithi government’s ambitious scheme for revival of irrigation tanks, Rs 3,000 crore has been allocated.

 

Focus on neglected sectors

Glossing over the State’s achievements, a number of sectors hitherto neglected have got special focus and higher allocations.

Even if the power demand shoots up to 10,000 MW, he said the State is ready to meet such demand.

Stating that the budget reflects the concern for the welfare of the poor and the economic development of the State, this focus was similar to three previous budgets.

In the first eight months of the current fiscal, tax revenue was higher by 19.61 per cent achieved in spite of demonetisation impact on stamps and registration.

 

Transition process

Following the Union Government’s decisions, the State has done away with Plan and non-Plan approach to stick to classification of expenditure into revenue and capital.

Telangana was in the process of a major transition from a shackled economy to that of an economy which is being nurtured back to fulfilling the long-pending aspirations of the people.

Under the special development fund for SCs and STs, allocation of ₹14,375 crore and ₹8,166 crore have respectively been made.

Towards minority welfare, the State has allocated ₹1,259.66 crore and set aside ₹1,940 crore for fee reimbursement. Expecting tourism to be a job creator, the State has earmarked ₹198 crore.

 

  Rs 19,000-crore jump in Telangana Budget

The Telangana government for 2017-18 to the Assembly with an estimated total expenditure of Rs 1.49 lakh crore which is Rs 19,000 crore more than the estimates for 2016-17.

The budget which had been steadily rising since the TRS government assumed power in 2014 and did away with the classification of expenditure into Plan and non-Plan for the first time this year on Central government’s decision. In the new system of classification, the expenditure of Rs 1.49 lakh crore would consist of expenditure of Rs 61,607 crore for payment of salaries, pensions, interest payments and other establishment charges, and expenditure on schemes to the tune of Rs 88,000 crore.

A number of programmes, including two bedroom houses for the poor, were envisaged for implementation through extra-budgetary resources. Thus, the expenditure in 2017-18 would be significantly higher than the budgeted amount.

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