Bhatti presents Vote-on-account budget with Rs 2.75 lakh crore outlay

Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka declared that a sum of Rs.53,196 crore was allocated for implementation of the flagship schemes under the promised six guarantees

Hyderabad: The Congress government on Saturday presented a vote-on-account budget with a truncated outlay of Rs.2,75,891 crore for the financial year of 2024-25 against the 2023-24 budget of Rs.2,90,296 crore. Further, the revised budget estimates for 2023-24 have been pegged at Rs 2,24,624 crore.

Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka, who tabled the State budget in the Assembly, declared that a sum of Rs.53,196 crore was allocated for implementation of the flagship schemes under the promised six guarantees.

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“Provision of additional funds will be made as required, once a complete assessment is made about the schemes,” he said.

Introducing the budget, the Deputy Chief Minister alleged that the previous BRS government had shown huge allocations in the budget to gain mileage, but did not spend them. To explain the same, he cited an allocation of Rs.17,700 crore made in the budget for 2021-22 for the Dalit Bandhu scheme and alleged that not a single rupee was released.

“We dispense with this terrible practice and we have estimated our receipts realistically and have made allocations accordingly. This shows our commitment to match our actions with our words,” he added.

While the revenue expenditure will be Rs.2,01,178 crore, capital expenditure is pegged at Rs.29,669 crore. Similarly, the revenue surplus of the State is Rs.4,424 crore, while the fiscal deficit is estimated to be around Rs.53,227 crore.

As per the revised estimates for 2023-24, the revenue expenditure is Rs.1,69,141 crore and capital expenditure is Rs.24,178 crore. The revised revenue surplus is Rs.9,031 crore, while fiscal deficit is Rs.33,785 crore.

Explaining the reasons for presenting the Congress government’s first budget as a vote-on-account budget, the Finance Minister said the State government has a clear vision on pooling its resources and plans to tap maximum funds from the Central government under various schemes. Pointing out that the Centre had recently introduced a vote-on-account budget, he said: “Only if a full scale budget is presented by the Government of India, we will be able to have a reasonable estimate of the funds that might be transferred to us. Hence, we have decided to introduce a full budget after the Central Government introduces its regular budget.”

Concluding his speech, Bhatti Vikramarka stated that the State budget will change the course of the State and make it people-centered development and their welfare. He alleged that the previous government made the State bankrupt, with the burden of unplanned loans being a major challenge. “Yet, we will stand by the people with planned developmental goals,” he said.

The Deputy Chief Minister also hinted at cutting down wasteful expenditure in day-to-day government operations and also disposing certain assets “by curbing expenditure on unwarranted infrastructural assets”.

Budget Highlights

• Total Budget – Rs.2,75,891 crore

• Abhayahastham schemes under six guarantees – Rs.53,196 crore

• Industries – Rs.2,543 crore

• IT – Rs.774 crore

• Panchayat Raj and Rural Development – Rs.40,080 crore

• Musi Riverfront Development – Rs.1,000 crore

• Municipal Administration & Urban Development – Rs.11,692 crore

• Agriculture – Rs.19,746 crore

• SC welfare – Rs.21,874 crore

• ST welfare – Rs.13,313 crore

• Minorities welfare – Rs.2,262 crore

• BC welfare —- Rs.8,000 crore

• Education – Rs.21,389 crore

• Medical and Health – Rs.11,500 crore

• Housing – Rs.7,740 crore

• Irrigation – Rs.28,024 crore