The Telangana State government has introduced a Budget of Rs 2,30,825.96 Crore for 2021-22 with a revenue deficit of Rs45,509.60 Crore aggregating to Rs 1.69,383.44 crore.
Introducing the budget in the state assembly today, Finance Minister Tanneer Harish Rao has put the capital expenditure at Rs 29,046.77 Crore while revenue Surplus at Rs6,743.5 Crore.
As for the State Economy is concerned, the Finance Minister said as per advance estimates, GSDP at current prices in 2020-21 is estimated at Rs.9,78,373 crore. With the adverse impact of corona and lockdown, the growth of GSDP declined significantly from 13.5 per cent in 2019-20 to 1.3 per cent in 2020-21. The national GDP growth declined from 7.8 per cent to -3.8 per cent in the same period. As compared with the national GDP growth, the State’s GSDP growth is much better than the national average by +1.3 per cent.
Thanks to the foresight of the CM KCR, Harish Rao said, steps have been taken to stimulate the rural economy by improving power supply, expanding irrigated area, implementation of many welfare schemes like Rythu Bandu, Sheep Distribution, Supply of fish seedlings to fishermen helped the primary sector recorded a growth of 17.7 per cent in 2020-21. The growth rate of secondary and services sectors recorded -5.2 per cent and -1.9 per cent, respectively, he added.
Per Capita Income
The per capita income of Telangana is higher than the country’s per capita income by Rs.99,377. Despite adverse conditions, the Telangana per capita income showed an increase of 0.6 per cent, compared to the previous year. This is proof that the economy of Telangana is in a better State even during the adverse situation. It is evident that Telangana has emerged as a major economic power in the country, stated Harish Rao.
The highlight of the budget this year is the announcement of the Rs1000 Crore Dalit Empowerment Scheme besides an Rs25,000 Crore for the agriculture sector. The other allocations are as follows:
Agriculture – Rs 25,000
Rythu Bandhu – Rs 14,800
Agri Loans – Rs5,225
Rythu Bheema – Rs 1200
Musi Beautification – Rs200
Hyderabad Free Water Supply – Rs 250
Metro Rail – Rs 1000
Municipal and Urband Development – Rs 15,030
Power sector – Rs11,046
Industries – Rs 3,077
Medical and Health – Rs 6,295
School Education – Rs11,735
Higher Education – Rs1,873
New Education schemes – Rs4000
IT sector – Rs360
Endowments – Rs720
Home Department – Rs6,465
Roads & Buildings Rs8,788
Land Acquisition for Regional Ring Road – RsRs 750
Civil Supplies – Rs 2,363
Handloom Weavers Welfare – Rs 338
BC Corporation – Rs1000
Toddy Tappers Welfare – Rs25
SC Welfare – Rs 21,306
ST Welfare – Rs 12,304
Culture & Tourism – Rs726
Women & Child Welfare – Rs1,502
Double Bed Room houses – Rs11,000
Panchyat Raj – Rs29,271
Irrigation – Rs 16,931
Asara pensions Rs11,728
Kalyana Lakshmi & Shadi Mubarak – Rs2,750 crore