Full State Budget-2024-25 Likely To Be Introduced On July 25 Or 27
Hyderabad, July 14 (Maxim News): A full state budget-2024-25 is being prepared for the current financial year. It is likely to be introduced in the Legislative Assembly on July 25 or 27.
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the Center is presenting the full budget for the financial year 2024-25 in Parliament on 23rd of this month. Finance department sources said that the state budget proposals will be finalised according to the estimates of how much funds the state will get.
Efforts are being made to allocate funds in the state to ensure that the guarantees given in the elections are fully implemented. Agriculture, Irrigation and Electricity departments will get huge funds. It is estimated that they will need more than Rs. 90 thousand crores. The state government is going to spend heavily on farmer loan waiver, farmer insurance, irrigation projects and free electricity this year.
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The loan collection process for the loan waiver scheme has already started. There is a possibility to allocate some money for this scheme in the state budget. As up to Rs. 14 thousand crores are allocated in the annual budget for Rythu Bharosa (earlier Rythu bandhu), The Department of Agriculture wants to give no less than that this year as well. The entire agriculture department is expected to need up to Rs. 55 thousand crores this year. Of this, more than Rs. 31 thousand crores will have to be spent on loan waiver.
Most of the irrigation projects have already been completed. If the remaining work is completed by spending a small amount on them, the new Ayakat will be cultivated. The government is planning to give priority to such projects in the budget.
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It is reported that the Irrigation Department has told the Finance Department that they need about Rs. 19,500 crore for this. Apart from this, huge amounts of funds are also required for interest and principal payments on the loans taken for the construction of irrigation projects.
Discoms are demanding Rs. 15 thousand crores under electricity subsidy scheme. Discoms estimate that 200 units of free electricity per month for households will require upto Rs. 150 crore per month. This is a scheme that was not in the state budget earlier. (Maxim News)
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