Hyderabad: Chief Minister K Chandrasekhar Rao has declared that in spite of the nation-wide economic slowdown and its direct and indirect impact on the State financial conditions, the Telangana State Government will continue with all its welfare schemes..
“There will be no changes in all the schemes and programmes being implemented by our government aimed at welfare of various sections of the people,” the Chief Minister told the State Legislative Assembly. Presenting the 2019-20 annual Budget in the Assembly, the Chief Minister said changes have been made in this final budget for the year from the interim Budget proposed earlier this year. “This reflects the economic realities facing the country and the State. We, however, hope that the situation will improve,” he said. Finance Minister T Harish Rao presented the Budget in the State Legislative Council. Chandrasekhar Rao also said that every one of the election promises made by the Government will be fulfilled. The Government has adopted a dynamic approach to the budget and will continuously estimate revenues and and review its priorities, make amendments as needed to ensure none of the development goals are missed, the Chief Minister said. The Chief Minister, who explained in detail the economic conditions prevalent in the country, the fall in growth rates across sectors, the overall reduction in direct and indirect revenues for the Centre as well the State, said the Annual Budget for 2019-20 is being pegged at Rs 1,46,492.30 crore. This is against the Rs 1,82,017 crore interim Budget proposed earlier this year. Of the proposed Rs 1,46,492.30 crore budget, Rs 17,274 crore will be spent on capital expenditure, Rs 1,11,055.84 has been set aside for revenue expenditure. As per the proposed budget estimates, the revenue surplus is Rs.2,044.08 crore and the fiscal deficit is Rs.24,081.74 crore, he said. The Assembly will meet again at 8 a.m. on Saturday, Speaker Pocharam Srinivas Reddy announced as he adjourned the House soon after the Chief Minister completed his Budget speech. SOME SECTORAL ALLOCATIONS Rythu Bandhu – Rs 12,000 crore Rythu Bima – Rs 1,137 crore Corp Loan Waiver – Rs 6,000 crore Subsidies for Power: Rs 8,000 crore Aasara Pensions – Rs.9,402 crore.