Hyderabad: Chief Minister K Chandrashekhar Rao on Friday presented a Rs 1,82,017 crore vote-on-account budget for the 2019-20 financial year.
In his budget speech in the State Legislative Assembly, Chandrashekhar Rao said of the total budget, the government proposes to spend Rs 32,815 crore on capital expenditure while pegging revenue expenditure at Rs 1,31,629 crore. While revenue surplus is estimated at Rs 6,564 crore, fiscal deficit is expected to be Rs 27,749 crore which works out to 2.81 per cent of the Gross State Domestic Produce (GSDP).
The Chief Minister said the government considered it a sacred duty to work for the people and had done so with diligence and intense focus and delivered on various programmes during its first term. He also held out the prospect of the government introducing some more innovative schemes in the State. “While continuing all the development and welfare schemes, the Government proposes to introduce new schemes as per the promises made during the elections,” he said.
“The budget that has been proposed will lead to balanced development of all sections,” he said.
Stating that the journey from the time the State came into being to now was not easy, Chandrashekhar Rao said: “We created history by introducing a large number of development and welfare schemes in a very short period of time. It is a matter of pride that through the steps taken by the government, we were successful in moving from darkness to light by providing uninterrupted and quality power, addressing farmer distress, taking care of the disadvantaged sections of the society and putting the economy on a high growth trajectory.”
“The country now talks of the ‘Telangana Model of Development’ and it is no exaggeration to say that every household is getting the benefit from one programme or the other introduced by the TRS government,” he said.
The Chief Minister proposed healthy chunks of funds for the priority sectors including agriculture, irrigation, and welfare.
He proposed that the Agriculture Department be given Rs 20,017 crore for the year. An amount of Rs 6,000 crore was proposed for waiver of farm loans with December 11, 2018, being the cut-off date for the waiver programme. Agricultural loans of up to Rs 1 lakh taken before that date will be eligible for the loan waiver programme. For Rythu Bhima, the life insurance programme for farmers, he said the government proposed to spend Rs 650 crore.
With respect to Rythu Bandhu, the investment input assistance programme of the government, he said the assistance will be increased from the current Rs 4,000 per acre per season to Rs 5,000 per acre per season. Chandrashekhar Rao said the government was setting aside a sum of Rs 12,000 crore towards this purpose.
The basket of welfare pensions, covering the aged, widowed or single women, beedi workers, toddy tappers and the differently abled and others will get a total of Rs 12,065 crore for the year. “These pensions have filled people with happiness. All those receiving Aasara pensions regard KCR as a son and God-given blessing to them. This is a great fulfillment in my political life,” he said.
Wile Aasara pensions will be hiked from the current Rs 1,000 per month to Rs 2,016 a month, for differently abled, the pensions will be increased from Rs 1,500 to Rs 3,016. “We are also reducing the age limit for old age pensions from 65 years to 57 years,” the Chief Minister said.
“Redeeming yet another election promise, the Government proposes to introduce unemployment allowance of Rs 3,016 per month to eligible persons. The details of the scheme are being worked out. An amount of Rs.1810 crore is proposed in the budget,” he said.
Providing details of the budget with respect to revenues and expenditure, he said the State’s Own Revenues for 2019-20 are estimated at Rs 94,776 crore compared to the 2018-19 figure of Rs 72,777 crore. He also said that this year, the transfers from Centre were likely to dip to Rs 22,835 crore from the Rs 28,042 crore in 2018-19.
The ‘PragatiPaddu (development account)’ proposed is Rs 1,07.302 crore while the ‘NirvahanaPaddu (governance account)’ is Rs 74,715 crore he said.
Budget At A Glance
- Total Outlay – Rs 1,82,017 cr
- Revenue Expenditure – Rs 1,31,629 cr
- Capital Expenditure – Rs 32,815 cr
- Revenue Surplus – 6,564 cr
- Fiscal deficit (@2.81% of SGSDP) – Rs 27,749 cr
- Agriculture Department – Rs 20,017 cr
- Irrigation Department – Rs 11,500cr
- Farm loan waiver (Dec 11, 2018 cut-off date) – Rs 6000 cr
- Aasara pensions – Rs 12,065 cr
- Rythu Bhima – Rs 650 cr
- Rythu Bandhu Rs – Rs 12,000 cr
- Unemployment allowance – Rs 1,810 cr
- SC welfare Rs 16,581 cr
- ST welfare Rs 9,827 cr
- Minorities’ welfare Rs 2,004 cr
- MBC Corporation Rs 1,000 cr