Telangana's first budget to be presented today
Hyderabad, Nov 4 (INN): It will be a historic moment on Wednesday for Finance Minister Etela Rajender when he will present the first budget of new State of Telangana in the State Legislative Assembly.
Etela is expected to present a Rs 90,000 crore budget for the current financial year although it would be effective for the remaining few months till March.
Since only one quarter of the current financial year is left, the government would use the budgetary exercise to highlight its long term goals. The government had already given several indications that the budget would be tax free. Further, it would be more concentrated on welfare schemes.
Farm loan waiver scheme, construction of new power plants, setting up of water grid, pension schemes, Financial Assistance for Students of Telangana, revival of minor irrigation tanks, highways, Kalyana Lakshmi are some of the schemes which would get a mention in the budget.
Chief Minister K Chandrashekar Rao is also likely to announce the State's new industrial policy. Contrary to the earlier speculations of Telangana having surplus revenues, the budget is likely to be in deficit although the government is banking on more grants from the Centre.
More than financial, the budget will be more political in nature. The opposition parties - Congress, Telugu Desam Party and Bharatiya Janata Party are all set to make the session stormy on the farmers issue.
Although the voice of opposition parties in both Legislative Assembly and Council would look marginalised due to recent defections to TRS, they plan the stall the proceedings over KCR's operation "Aakarshan".
News Posted: 4 November, 2014
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