Telangana budget to focus on Six Guarantees
For the current financial year of 2023-24, the previous BRS government presented a massive Rs 2.9 lakh crore budget in February last year.
Hyderabad: With shifting priorities, the latest budget of Telangana for 2024-25 is likely to focus on the Congress government’s Six Guarantees and other new development projects. While preparations are in full swing to present a full-fledged budget in the Assembly next month, officials have not ruled out the possibility of a Vote-on-Account budget if the schedule for the Lok Sabha elections is announced.
For the current financial year of 2023-24, the previous BRS government presented a massive Rs 2.9 lakh crore budget in February last year. Sources in the Finance department informed that the while proposals were being collected from all the departments concerned, the State budget for 2024-25 was likely to surpass the previous fiscal’s outlay.
The Finance department has commenced the process of budget preparation for the fiscal year 2024-25. Proposals have been invited from all departments, asking the heads of departments (HoDs) concerned to submit them online by January 11 to facilitate smooth coordination and incorporation of changes, as per the priorities of the new government.
The HoDs were also instructed to provide cadre-wise posts and details of existing employees in the prescribed format. In addition, they were asked to furnish details pertaining to new employees expected to join this year and also the revised estimates for the current financial year, as part of the budget exercise. The government has clarified that there would be no increase in the budget amount in the revised estimates.
Strict instructions were issued to focus on increasing revenue and preventing leakages. Specific targets would be set, detailing the amount incurred under operating expenditure and scheme expenditure for the upcoming financial year. Proposals should align with the changing priorities of the State government.
The Finance department asserted the necessity of submitting accurate and fact-based proposals for any new schemes, including proposed launch dates and estimated outlay. Public works departments were instructed to submit scheme-wise payments and details online, ensuring accuracy and compliance with actual requirements.
Regarding schemes, the Finance department suggested for submission of year-wise expenditure, the number of beneficiaries, and relevant data, since the formation of Telangana State. Utilisation of the Central government-sponsored schemes was encouraged, and proposals should consider their linkage with State schemes, including department-wise grants, for optimum usage of funds.
The Finance department also sought details of all loans obtained by the government departments, corporations, and special-purpose vehicles. All the departments were instructed to submit details of all bank accounts and assets. They were warned that non-compliance with transparency standards would be taken seriously.
