India’s newly formed state, Telangana, presented its first annual budget on November 5th 2014. The budget was presented in the State Assembly by Finance Minister Mr. Etela Rajinder. A total expenditure of Rs 1,00,637 crore during 2014-15 has been proposed for the state.
Major highlights of the Budget
An expenditure of of financial year 2014-15, including a plan expenditure of Rs 48,648 crore and non-plan outlay of Rs 51,989 crore has been proposed in this budget.
|Total Expenditure||Rs 1,00,637 crore for the 10 months|
|Plan Expenditure||Rs 48,648 crore|
|Non-Plan Outlay||Rs 51,989 crore|
Fiscal deficit of Rs 17,398 crore and the estimated revenue surplus is Rs 301.02 crore has also been highlighted in this budget.
Welfare of weaker section:
Budget also included provision for new social sector programmes. These include a land purchase scheme for landless families belonging to Scheduled Castes and a farm loan waiver. For loan waiver scheme for farmers, state government has paid the first installment of Rs 4,250 crore.
Rs 1,000 crore is allocated in order to provide three acres of cultivable land to each landless family of the scheduled caste, develop it with irrigation and provide total cost of cultivation for the first year as a grant.
Sub-plans for scheduled castes and schedule tribes by approving Rs 7,579 crore and Rs 4,559 crore respectively.
In the Budget state government allocated Rs 7,099 crore for agriculture.
Seed bowl of India project: To develop Telangana as seed bowl of India, Rs 50 crore were earmarked.
The allocation to irrigation was Rs 6,500 crore. Additionally Rs 2,000 crore was allocated to revive small irrigation tanks.
Four lift irrigation schemes for the current year in order to bring 2.97 lakh acres of land under irrigation is also proposed.
The allocation to health under the Plan expenditure was raised to Rs 2,283 crore, with substantial upgradation to state-level and district hospitals.
It has been proposed to set up a Health University at Warangal.
Roads: Government would spend about Rs 10,000 crore alone on improving the road network in two years, while proposing Rs 4,000 crore in the current year.
Water grid project: Rs 2,000 crore has been allocated for the water grid project. The project with a total estimated cost of Rs 25,000 crore will envisages the supply of drinking water to every household in three years.
Power generation projects:
An ambitious task of adding 20,000 MW of power generation to its capacity over the next five years has been proposed.
It includes 4,000 MW power plant of NTPC at Ramagundam and 6,000 MW thermal power plant by BHEL for which a memorandum of understanding was signed.
The State Government will also spend Rs 3,000 crore to provide free electricity to the farmers.
A land bank with 500,000 acres, suitable for industries, was also mentioned in the budget.
An allocation of Rs 100 crore towards financial assistance for the families of people who sacrificed their lives for the separate state. The government has identified families of 459 martyrs who will get Rs 10 lakh each.
Market Intervention Fund:Rs 400 crore is allocated for establishing Market Intervention Fund to ensure farmers get stable and remunerative prices.
Provision under constituency development fund has been increased from Rs 1 crore per constituency to Rs 1.5 crore and an amount of Rs 234 crore has been allocated.