The Telangana Government has almost finalised the annual budget of Rs 1.10 lakh crore for the year 2015-16 to be presented by Finance Minister Etala Rajender during the budget session starting from March 7.
The Finance Minister will present the first full-fledged budget for the new State of Telangana on March 11. Last year, on November 5, he presented a budget of Rs 100,637 crore for a period of 10 months. It comprised of Rs 47,648.47 crore under Plan and Rs 51,989.40 crore under Non-Plan. However, the State Government, as on March 2, could spend only Rs 32,187 crore. It included debts of nearly Rs 18,000 crore like first installment of Rs 4,250 crore towards waiver of crop loans.
Chief Minister K Chandrashekar Rao held several brainstorming sessions during last weekend with the officials of Finance and other relevant departments to adopt a realistic approach towards the forthcoming budget. It has been decided to make higher allocations to irrigation, agriculture and allied sector, electricity, education and welfare sectors. The entire budget exercise was done in accordance with the estimated revenues through Stamps & Registrations, Excise, VAT and other resources.
The Chief Minister has reportedly shortlisted 10 priority areas which include Irrigation, Mission Kakatiya, Water Grid, Roads, Haritha Haram, Energy, Land Distribution, Nutrition, Subsidised Rice, Kalayana Laxmi, Shaadi Mubarak, KG to PG free education and weaker sections housing. The government is likely to make substantial allocations to ensure generation of 6,000 MW of power in the next three years.
KCR is also exploring options to carry forward the unspent allocated amounts of 2014-15 in the welfare sector in next year's budget.