Polls over, state govt shifts its focus to budget

Hyderabad: With election season over, the state govt is back to giving shape to a full-fledged budget and would begin the process in the next few days. The state govt had earlier presented a ‘vote on account’ with an allocation of Rs 2.75 lakh crore in the second week of February. It had obtained legislative consent for it for four months until the end of July.The state had presented a ‘vote on account’ since the central govt had also gone for a similar exercise in view of the general elections without providing clarity on allocations to the states.As part of the budget exercise, the state govt would begin seeking submissions from departments regarding their needs for the current fiscal. The govt will consider anticipated revenue receipts, expenditures, and priority areas for revenue mobilisation to ensure the continuous implementation of the six guarantees made by the Congress govt.The state needs a huge chunk of funds to fulfil its promise of crop loan waiver of up to 2 lakh which chief minister A Revanth Reddy has said will be executed by August 15. The govt is looking at ways to raise funds required to fulfil the assurance and is examining solutions within the restrictions set by the Fiscal Responsibility and Budget Management Act.Hyderabad: With election season over, the state govt is back to giving shape to a full-fledged budget and would begin the process in the next few days. The state govt had earlier presented a ‘vote on account’ with an allocation of Rs 2.75 lakh crore in the second week of February. It had obtained legislative consent for it for four months until the end of July.The state had presented a ‘vote on account’ since the central govt had also gone for a similar exercise in view of the general elections without providing clarity on allocations to the states.As part of the budget exercise, the state govt would begin seeking submissions from departments regarding their needs for the current fiscal. The govt will consider anticipated revenue receipts, expenditures, and priority areas for revenue mobilisation to ensure the continuous implementation of the six guarantees made by the Congress govt.The state needs a huge chunk of funds to fulfil its promise of crop loan waiver of up to 2 lakh which chief minister A Revanth Reddy has said will be executed by August 15. The govt is looking at ways to raise funds required to fulfil the assurance and is examining solutions within the restrictions set by the Fiscal Responsibility and Budget Management Act.