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Telangana presents Rs.1.50 lakh crore budget

IANS | Hyderabad |

Telangana on Monday presented a tax-free, revenue surplus budget for 2017-18, proposing an expenditure of Rs.1,49,446 crore, an increase of 14.59 percent over the previous year.

The budget estimates for 2017-18 indicate a revenue surplus of Rs.4,571 crore and a fiscal deficit of Rs.26,096 crore.

Finance Minister E. Rajender tabled the development and welfare oriented budget in the new format in accordance with the guidelines issued by the central government. The plan and non-plan expenditure classification has been replaced with capital and revenue expenditure.

The state coined 'maintenance and scheme expenditure' for the two new heads.

The estimated maintenance expenditure is estimated at Rs.61,607 crore while expenditure for schemes is pegged at Rs.88,038 crore.

The budget allocated Rs.14,375 crore for the welfare of Scheduled Castes, Rs.8,165 crore for Scheduled Tribes, Rs.5,070 crore for backward classes and Rs.1,249 crore for minorities.

With irrigation remaining top priority, the Finance Minister allocated Rs.23,675 crore for the sector. The allocation for agriculture was Rs.5,943 crore.

He provided Rs.4,000 crore as the third and final instalment for waiver of farm loans.

The budget allocated Rs.12,705 crore for education, Rs.5,976 crore for health, Rs.1,939 crore for fee reimbursement, Rs.5,033 crore for road development, Rs.5,599 crore for urban development and Rs.14,723 crore for Panchayati Raj.

For the Telangana Rashtra Samithi government's ambitious scheme for revival of irrigation tanks, Rs.3,000 crore has been allocated.