1,46,492.30 Cr Budget For TS, 24,081.74 Cr Deficit
Despite the ongoing economic slowdown, CM KCR said that his government would offer priority to welfare schemes, agriculture, irrigation and other key sectors.
Hyderabad | 9th September 2019
Telangana Chief Minister K Chandrashekar Rao today declared that in spite of the nation-wide economic slowdown and its direct and indirect impact on the State's financial position, his government would continue all its welfare and development programs.
KCR was presenting the full budget for the 2019-20 financial year in the Telangana Legislative Assembly on the first day of budget session.
The Rs 1,46,492.30 crore budget includes Rs 1,11,055 crore as revenue expenditure and Rs 17,274.67 crore as capital expenditure. There is a Rs 24,081.74 crore deficit.
KCR said that despite the ongoing economic slowdown and the Centre failing to provide additional funds to the new State, his government would offer priority to welfare schemes, agriculture, irrigation and other key sectors.
"Recession is affecting all the sectors in the country. Despite this, however, Telangana is growing at a high pace - my government has doubled the GSDP growth in five years from 4.2% to 10.5% while the country's GDP growth has come down to 5% from 7%. And this GSDP growth is enabling the State government's focus on welfare to continue," he said.
Elaborating on the welfare commitment, he said that the farmers, the poor and the weaker sections would get special attention with proper allocations for them.
For the farmers, he declared that the Rythu Bandhu and Rythu Bheema schemes would continue, and that the government would give Rs 12,000 crore for Rythu Bandhu and Rs 1,137 crore towards insurance premia for farmers, as also Rs 6,000 crore for crop loan waiver.
For villages, he earmarked Rs 339 crore for gram panchayats for development every year.
For the elderly, he allocated Rs 9,042 crore for Asara pensions.
Speaking about the costs of the welfare net, the Chief Minister said that the State government had spent Rs 20,925 crore towards free electricity for farmers and had run up a debt of Rs 9,695 crore because of the Uday scheme. Dues of Rs 5,772 crore by Singareni Collieries to power companies were also borne by the State government, he said. While the government spent Rs 5,37,373 crore on development and welfare in the last five years, the State received only Rs 31,802 crore for implementation of Central government schemes, he explained.
KCR assured continuation of corruption-free and transparent governance with speedy delivery at the people's doorsteps.
The budget session commenced at 11:30 am with Speaker Pocharam Srinivas Reddy offering floral tributes to poet Kaloji Narayana Rao's portrait at the Assembly lounge.
Finance Minister T Harish Rao presented the budget in the State Legislative Council.
filed in: Telangana, KCR, Budget, State Budget, Social Welfare
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