With the Centre cutting funding to Telangana in 2022-23, the State government appears to be preparing a pragmatic State budget of more than Rs.2.75 lakh crore for 2023-24, which is expected to be presented in the Assembly next month.
All efforts are being made to ensure that ongoing welfare and development programmes continue without interruption, even if the Centre continues to refuse support.
The state government proposed a budget of Rs.2.56 lakh crore for fiscal year 2022-23, which included revenue expenditure of Rs.1.89 lakh crore and capital expenditure of Rs.29,728.44 crore.
However, the state fell short of nearly Rs.56,000 crore in revenue from the union government for the fiscal year 2022-23, which included dues, funds, grants, and compensation.
For fiscal year 2022-23, the state government proposed a budget of Rs.2.56 lakh crore, which included revenue expenditure of Rs.1.89 lakh crore and capital expenditure of Rs.29,728.44 crore.
However, the state fell short of the union government’s revenue target of nearly Rs.56,000 crore for fiscal year 2022-23, which included dues, funds, grants, and compensation.
According to sources, though Finance Minister T Harish Rao would technically present a Vote-on-Account budget due to the State Assembly elections in December, it would be a full budget covering all ongoing schemes.
Priority sectors include agriculture, health, education, and welfare, with the State government focusing budget allocations on Dalit Bandhu, Aasara pensions, and infrastructure development, among others. The state’s budget will be tax-free.
“Telangana has requested substantial allocations in the Union Budget for 2023-24. However, given previous experiences and the political environment, the budget is being prepared with extreme caution,” sources said.
