KCR Presented Telangana’s Vote On Account Budget 2019-20

• KCR Presents Rs.1.82,017 Cr Budget; Funds Allocated for Fulfillment of Poll Promises –New Schemes Also Assured

Hyderabad, Feb.22 (Maxim News): The Chief Minister K. Chandrasekhar Rao today presented the vote on account budget for the financial year 2019-20 in the State Assembly, allocating funds for a number of welfare schemes promised by the ruling party on the eve of the last Assembly elections, thus proving that it was keen on fulfilling the assurances.

The total budgetary outlay proposed by the Chief Minister for the financial year is Rs. 1,82,017 crore. Of this, the revenue expenditure is Rs. 1,31,629 crore and the capital expenditure is Rs.32,815 crore. In 2019-20 the estimated revenue surplus is Rs.6,564 crore and fiscal deficit is Rs.27,749 crore. The fiscal deficit is 2.81 per cent of GSDP.

Rao said that State’s own revenues for Budget Estimates (BE) for 2019-20 are at Rs.94,776 crore in comparison with the revenue estimates (RE) for the financial year 2018-19 at Rs.72,777 crore. Transfers from the Centre as per the BE 2019-20 is Rs.22,835 crore while in RE 2018-19 these were estimated at Rs.28,042 crore. He said while continuing all the development and welfare schemes, Government proposes to introduce new schemes as per the promises made during the elections. The Government worked with intense focus and delivered programs like a sacred duty. The blessings of the people are a vote on the performance. In future too, people’s aspirations will guide us to introduce innovative schemes. Bangaru Telangana- where verdant green crops are swaying in the wind, where there is inclusive growth – is our goal and we rededicate ourselves towards that noble goal. “The Budget proposed will lead to balanced development of all sections. I commend the Budget for the approval of the August House,” he said.

The Chief Minister said that as per the Finance Accounts of the State Government certified by the Accountant General, the total expenditure in 2017-18 was Rs. 1,43,133 crore and added that the revenue receipts were Rs.88,824 crore. The expenditure on revenue account was Rs.85,365 crore. The revenue surplus was Rs.3,459 crore. The total expenditure of the state was Rs.1,43,133 crore and capital expenditure was Rs.23,902 crore. “ As per the Revised Estimates, the total expenditure in 2018-19 is estimated at Rs.1,61,857crore. Of this, revenue expenditure is Rs.1,19,027crore while capital expenditure is Rs.28,053 crore. The estimated surplus on revenue account Rs.353 crore”, he added.

Beginning the budget speech, KCR said that Telangana, the twenty ninth State of the Indian Union, was taking firm steps towards being a successful and forward-looking State. “In a short period of time, we have overcome several adversities, deepened our social and economic foundations, and have become a model for the rest of the country.

Darkness to Light:

KCR further said that at the time of the formation of the State, it was crisis ridden. There was acute power shortage and unscheduled power cuts forcing the industries to work in shifts resulting in negative growth of the industrial sector and added that farming sector was in distress resulting in a very high incidence of farmer suicides, and the economy growing at a very slow pace. “Farmers’suicides, stressed rural economy, stalled irrigation projects, tanks in a state of disrepair, successive droughts, migrant labour, non- availability of clean drinking water – this was the face of the State. We were not deterred by the crisis staring at us and the challenging task of addressing it. We acted fast and decisively despite numerous constraints,” he noted

He said that they had started a difficult and challenging journey of rebuilding Telangana and reinventing Telangana. With God’s blessings, benign nature and the support of the people of Telangana, the journey had been very rewarding for them so far. “We have created history by introducing a large number of development and welfare schemes in a very short period of time. I am proud that through a number of welfare and developmental schemes, we were successful in moving from darkness to light by providing uninterrupted and quality power 24×7, addressing farmer distress, taking care of the disadvantaged sections of the society and putting the economy on high growth trajectory. There is nothing more satisfying to me than seeing happiness on the faces of our people. This further strengthens our government’s determination to serve the people of Telangana even better,” he said.

T Takes Center-Stage:

Speaking further, he said that it was a matter of immense pride for them that within a period of less than five years, Telangana had become a trailblazer and a role model for the entire nation. Previously, the Gujarat and Kerala models of development were talked about in the past across the country. “ Now, the Telangana model of inclusive development has taken center-stage. Our Government has set an unprecedented record by not only fulfilling all the promises in the election manifesto but even delivering more than what was promised. It is no exaggeration to say that every household is getting the benefit from one programme or the other introduced by our Government. The people of Telangana reposed immense trust and gave the TRS party a massive mandate in the recently held elections,” he noted. (Maxim News)