Harish Rao Likely To Present Vote-On-Account Budget

Hyderabad, Jan 9 (Maxim News): Finance Minister T. Harish Rao is likely to present a huge budget outlay of over Rs. 2.75 lakh crore for the year 2023-24, the Budget may be presented next month.

As 2023 is the electioneering year, the BRS President and Chief Minister K.Chandrasekhar Rao will take all measures to ensure that the ongoing welfare and development schemes continue without hurdles and will allege the Central government for not extending support and making it an election issue.

It may be recalled that the State government had presented an Rs. 2.56 lakh crore budget for the year 2022-23 including revenue expenditure of Rs. 1,89 lakh crore and capital expenditure of Rs. 29,728.44 crores. The BRS government makes the allegation that it has suffered a shortfall of Rs. 56,000 crores in revenue including dues, funds, grants, and compensation from the union government for the financial year 2022-23. Still, the State government claims it has registered a significant growth of around 19 percent in its total revenues in November 2022-23 compared to the previous year. Thus it could ensure the implementation of all ongoing schemes without much delay, despite severe financial challenges including delay in the release of funds from the Center as claimed by the BRS government.

According to the finance department sources, the State’s revenue receipts stood at Rs. 1,25,157 crore in November 2022-23 against Rs. 1,05,167 crore in November 2021-22, i.e. growth of around 19 percent. As per preliminary estimates, Telangana continues to maintain a higher growth rate in the Gross State Domestic Product (GSDP) at more than 10 percent at constant prices. Though it will be a Vote-on-Account budget as the State Assembly elections were due this December, it would be a full budget in nature covering all ongoing schemes.

Priority sectors include agriculture, health, education, and welfare with the State government giving equal focus on Dalit Bandhu, Aasara Pensions, and infrastructure development among others in budget allocations. (Maxim News)

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