Telangana To Present Vote-On-Account Budget

Hyderabad, Nov 27 (Maxim News): Keeping in view that the Telangana state is going to the polls in the year 2023 and also likely to be advanced by few months, seeing the latest political situations in the state and the BJP is emerging strong, with this, the Chief Minister K.Chandrasekhar Rao has plan to mobilise additional funds of Rs. 20,000 crores by selling precious government lands to implement flagship schemes such as Rythu Bandhu, Dalit bandhu and other welfare schemes.

According to the official sources, in addition to implementing the welfare schemes announced by KCR, funds are also required for infrastructure development before the end of the current financial year. Being the electioneering year, the Telangana government will be presenting the Vote-on-Account Budget.

Top sources said that the Chief Minister reviewed the state financial position amid sanctions imposed by the Centre on borrowings from financial institutions and reducing the FRMB limit. Though the sale of identified precious government lands gave a temporary relief in the second and third quarter of the financial year, the fourth quarter is considered most crucial as the next budget may be Vote-on-account budget. sources said that the government requires Rs. 7,500 crore for Rythu Bandhu as it has to deposit money in farmers accounts from December first week. It requires Rs. 7,000 crore for Dalit bandhu and Rs. 6,000 crore to complete other pending development works. KCR is said to have asked the finance wing to achieve a 100 per cent revenue target from State owned tax revenue (liquor sale, VAT on fuels, property registrations and transport) this year.

So far, the revenue generating departments had achieved 80 per cent of the target during the three quarters, if the state achieves a 100 per cent target, the government will get Rs. 15,000 crore funds directly from the State owned Tax Revenue. It expects to mop up the balance from sand and mining. sources said that Chief Secretary Somesh Kumar has called upon all the top officials to plug all leakages and ensure revenue generation at optimum level in the next four months. (Maxim News)


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