Harish Rao presents Rs 2.30 lakh crore tax-free budget

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Finance Minister Harish Rao is delivering his budget speech in the assembly
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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.

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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.

State Economy

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

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