Harish Rao presents Rs.2.9 lakh crore tax-free budget

T Harish Rao, Finance Minister, presented a tax-free budget of Rs 2,90,396 crore to the State Legislative Assembly here on Monday. The total revenue expenditure is Rs 2,11,685 crore, while the capital expenditure is Rs 37,525 crore. This is approximately Rs 34,000 crore more than the previous budget for 2022-23 of Rs 2.56 lakh crore.

In the most recent budget, the state government prioritised infrastructure development and public welfare. A total of Rs 2,500 crore has been allocated for the maintenance of Roads and Buildings roads, and Rs 2,000 crore has been allocated for the maintenance of Panchayat Raj roads. A total of Rs 1,000 crore has been set aside for new recruitments in various government departments.

For the State government’s flagship programme of Dalit Bandhu, Harish Rao sanctioned Rs 12,980 crore to ensure benefit for 1,100 beneficiaries per each of the 118 constituencies in the State this year. Around Rs 7,890 crore have been allocated for construction of double bedroom houses for the benefit of 2,000 eligible persons per each of 119 constituencies in the State. Another 25,000 houses will be allotted at the discretion of the Chief Minister.

Further, the Finance Minister stated that for effective implementation of Palle Pragathi and Pattana Pragathi schemes in the State, the State government will release the State’s matching share along with the Finance Commission grants directly to the bank accounts of the local bodies. A total of Rs 3,360 crore for Palle Pragathi and another Rs 1,474 crore for Pattan Pragathi, have been sanctioned.

The State government will spend approximately Rs 26,831 crore for the Agriculture department, Rs 2,071 crore for Animal Husbandry and Fisheries, and Rs 2,071 crore for Animal Husbandry and Fisheries. Harish Rao has allocated Rs 15,075 crore for Rythu Bandhu, Rs 1,589 crore for Rythu Bima insurance, and Rs 6,385 crore for the farm loan waiver scheme in 2023-24, up from Rs 4,000 crore in 2022-23.

The Irrigation department received a total of Rs 26,885 crore in funding. While the Finance department has been allocated Rs 49,749 crore for salaries, pensions, and other expenditure, the Panchayat Raj and Rural Development departments have been allocated Rs 31,426 crore.

“Telangana will forge ahead and play an important role in nation building in the years to come. Let us continue to work together without any rest for the upliftment of dalits, tribals, minorities, backward and weaker sections and poor people among the upper castes. In this noble and uncompromising task, I humbly request all the people of Telangana to extend their full support and cooperation,” he concluded.