Telangana's First Budget On November 5

It will be a historic moment on Wednesday for Finance Minister Etela Rajender when he presents the first budget of the new State of Telangana in the State Legislative Assembly.

Etela is expected to present a Rs 90,000-crore budget for the current financial year, although it will be effective for only the remaining few months till March 2015.

Since only one quarter of the current financial year is left, the government will use the budgetary exercise to highlight its long-term goals.

The government had already given several indications that the budget will be tax-free, and that it will concentrate more on welfare schemes.

The farm loan waiver scheme, construction of new power plants, setting up of a water grid, pension schemes, Financial Assistance for Students of Telangana (FAST), revival of minor irrigation tanks, highways and Kalyana Lakshmi are some of the schemes which will get a mention in the budget.

Chief Minister K Chandrashekar Rao is also likely to announce the State's new industrial policy

Contrary to the earlier speculations of Telangana having surplus revenues, the budget is likely to have a deficit although the government is banking on more grants from the Centre.

The budget will be more political than financial in nature. The Opposition Parties - the Congress, Telugu Desam Party and Bharatiya Janata Party - are all set to make the session stormy on the farmers' issue.

Although the voices of the Opposition Parties in both the Legislative Assembly and the Council are marginalised due to the recent defections to the TRS, they still plan the stall the proceedings over KCR's "Operation Aakarshan". (INN)