Telangana Likely To Spend Rs. 20,000 Crores Less Than Budget Estimates In The Current Financial Year 2023-24 

Hyderabad, March 24 (Maxim News): Keeping in view the changed priorities by the newly formed Congress government headed by Chief Minister Revanth Reddy, Telangana is likely to spend Rs. 20,000 crores less than the revised budget estimates for the financial year 2023-24.

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As per the revised budget estimates, the actual expenditure for the fiscal is around Rs. 1.71 lakh crore at the end of January this year against the projected Rs. 2.24 lakh crore for the current fiscal. 

Under the previous BRS regime, the State budget estimates projected the total expenditure at Rs. 2.49 lakh crore including revenue expenditure of Rs. 2.11 lakh crore and capital expenditure of Rs. 37,524 crore for the financial year 2023-24.

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However, while presenting the revised estimates for 2023-24, Deputy chief Minister (Finance and Energy) Mallu Bhatti Vikramarka revised the total expenditure to Rs. 2,24,625 crore, out of which revenue expenditure is Rs. 1,69,141  crore and capital expenditure is Rs. 24,178 crore.

While the revenue expenditure includes the operational expenses including salaries, pensions and welfare schemes, the capital expenditure is typically investment in creating assets for the State through infrastructure development.

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Before the Congress government was formed in December last year, the actual total expenditure stood at Rs. 1.44 lakh crore.  In January this year, the actual total expenditure increased to Rs. 1.72 lakh crore including Rs. 1.38 lakh crore in revenue expenditure and another  Rs. 33,991 crore in capital expenditure.

The actual expenditure of the Congress regime in the initial two months, was around Rs. 28,086 crore.  Even if the State government’s expenditure is another Rs. 32,000 crore in February and March, the actual expenditure is unlikely to surpass Rs. 2.04 lakh crore, the officials in the Finance department said.

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The officials attributed the shortfall in actual expenditure to initial hiccups faced by any new government, due to changed priorities especially with focus on implementing the six guarantees of the Congress to the people of the state. 

The state government had so far implemented the free bus travel for women with an estimated expenditure of Rs. 300 crore per month, enhanced coverage under the Aarogyasri from Rs. 5 lakh to Rs. 10 lakh and launched Indiramma Housing.  But it is treading cautiously in the implementation of other promises like Rythu Bharosa and enhanced Aasara pensions.

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Initial budget estimates  – Rs. 2.49 lakh crores

Revised budget estimates Rs. 2.24 lakh crore 

Actuls till January Rs. 1.72 lakh crore

Estimated shortfall in actual expenditure by end of current fiscal Rs. 20,000 crores.  (Maxim News) 

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