Hyderabad, March 8 (Maxim News): Grant of old age pensions to all eligible people who are above 57 years, initiation of a special action plan shortly to diagnose the ear, nose, throat and dental related diseases on similar lines of Kanti Velugu, and to conduct medical tests covering every citizen and to a create Telangana Health profile, are among the decisions announced by the Finance Minister T Harish Rao, in the State Legislative Assembly today, while presenting the Budget for 2020-21.
The Minister presented the Budget proposing Rs.1,82,914.42 Crore of expenditure. Out of this the revenue expenditure is Rs.1,38,669.82 crore and capital expenditure is Rs22,061.18 Crore. It is estimated that surepulus in Budget estimates is Rs.4,482 crore, while the fiscal deficit is Rs.33,191.25 crore. The Minister said that as per the Revised Estimates of 2019-20, the total expenditure is estimated at Rs.1,42,152.28 crores –Revenue expenditure Rs.1,10,824.77 crore and capital expenditure Rs.13,165.72 Crore. Harish Rao made it clear that there is no reduction in the funds pertaining to welfare progrmmes, but decisions are taken which are proposed in this Budget to increase the beneficiaries of welfare schemes.
The Finance minister claimed that this Budget depicts the Telangana Government’s commitment towards advancement of poor people. This is purely progressive Budget which is prepared with a people centric approach. He added that the Budget is prepared keeping in view the necessities of people and clear awareness of their priorities. He further said that elections at all levels are now over and “during every election the people reposed complete faith on our Government”. The mandate of people announced that the path we are treading is correct and the strategies that we are following are successful. Even though this budget is only for one year, our strategic plans are for four years.
Rao said that the Budget has been prepared against the backdrop of overall economic slowdown gripping the Indian economy, as a result if which there is reduction in tax devolution and other transfers to the State by the Centre, and decline in the growth of State Revenues. The tax devolution from Centre to the State is expected to be lower in 2019-20 by Rs.3,731 crore as compared with the budget estimates. Following the economic slowdown, the growth of the State’s own revenues in 2019-20 (till the end of February) is estimated to be at 6.3 percent, much below the growth of 16.1 per cent achieved in 2018-19. Harish Rao, however, assured the members that despite these adverse developments, which are beyond our control, the Government is confident of overcoming the situation with appropriate strategies and keep up the growth momentum in the State.
He said that the antidote to economic recession is to enhance people’s purchasing power. By giving top priority to welfare, Government is enhancing standards of living of people. Government is achieving economic development through dual strategy of enhancing people’s purchasing power step by step and by spending resources on capital expenditure.
MLA Funds
Harish Rao announced that the Government has taken a decision to five Constituency Development Fund at Rs.three crore for every MLA and MLC for taking up developmental activities in their constituencies. Government will shortly release the guidelines in this regard. He said that the Legislators who are elected b y the people and who formulate policies for the development of State do not even have offices in their own constituencies, “Our chief Minister who identified this drawback had conceived the idea of constructing offices for MLAs in their respective constituencies. So far, construction works completed in 82 constituencies. A sum of Rs.480 crore is proposed in the Budget for MLAs and MLCs Assembly constituency funds, he added.
Metro in Old City
The Minister referred to Metro services now available in Hyderabad city, and said that the remaining five Kilometers covering old city will be completed at the earliest. In the second phase, plans are being prepared for Metro Rail from Rayadurgam to Shamshabad and from BHEL to Lakdikapool.(Maxim News)
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