Etala presents Rs 1 lakh Cr surplus TS budget

Finance Minister Etala Rajender on Wednesday presented Rs 1,00,637.96 Crore budget for the Telangana State for 10 months of the financial year 2014-15.

The non-plan expenditure is estimated at Rs 51,989.49 Cr and plan expenditure at Rs 48,648.47 Cr. The estimated revenue surplus is Rs 301.02 Cr. The marginal revenue surplus is entirely on account of additional revenue mobilization proposed in the budget. The fiscal deficit is estimated at Rs 17,398.72 Cr. As a percentage of GSDP, the estimated fiscal deficit is 4.79 per cent.

“Normally, the budget is more about numbers but this budget is more about our people and their well being. This budget has been formulated with an objective of delivering a sustainable future for our children and generations beyond. The new State of Telangana has strengthened the faith of people in their own future and the faith of every citizen in Telangana. The long journey to the realization of “Bangaru Telangana” has just started and with the active participation of people, there will be no looking back till we reach our destination, which will be sooner than later,” 

Etala said while presenting his maiden and first budget of new State of Telangana.

The Finance Minister informed that Rs 100 Cr have been earmarked for to extend financial support to the families of martyrs.  He said Rs 10 lakh to each of the 459 families of the martyrs has been released.

“This budget which will telescope into the next four budgets has been formulated under the directed and leadership of Chief Minister K Chandrashekar Rao ensuring that the benefit of government expenditure reaches all deserving people, especially the weaker sections, who did not get their due share so far. This is the first time that a new State has attempted to democratize the entire process of budget making,” the Finance Minister said.

Mentioning about the Intensive Household Survey done on August 19 this year, the Minister said that results of survey would be used to better target welfare programmes.

The Telanana Government has allocated Rs 2,000 Cr for revival of tanks and irrigation; Rs 6,500 Cr for irrigation and command area development; Rs 2,000 Cr for Water Grid and Drinking Water; Rs 250 core for Horticulture; Rs 7579.45 Cr for SC Sub-Plan; Rs 4559.81 Cr for ST Sub-Plan; Rs 2,022 for BC Welfare; Rs 1,030 Cr for Minorities Welfare; Rs 330 Cr for Kalyani Lakshmi/Shaadi Mubarak scheme; Rs 212.86 Cr for Technical Education; Rs 119.63 Cr for IIIT at Basara; Rs 2282.86 Cr for Medical & Health; Rs 250 Cr for Slum Development in GHMC; Rs 416.67 Cr for Metro Rail; Rs 581 Cr for water supply in Hyderabad; Rs 4,000 Cr to improve road network; Rs 3241.90 for energy (non-plan) including Rs 3,000 power subsidy and Rs 1,000 Cr for weaker sections housing.

The Finance Minister informed that the Constituency Development Fund has been increased from Rs 1 Cr to Rs 1.50 Cr per constituency per annum. Accordingly, an amount of Rs 234 Cr has been proposed in this budget.