Telangana 2018-19 budget set to cross Rs 1.50 lakh crore

HYDERABAD: The economic slowdown notwithstanding, the Telangana government seems to be gearing up to dole out hefty dollops of sops and welfare schemes for various sections of society with an eye on the 2019 elections.

The TRS government is all set to propose an over Rs 1.50 lakh crore budget for the next financial year (2018-19) lure every section of society and woo the electorate. Chief minister

K Chandrasekhar Rao

has already directed the finance department to ensure enough funds so that the government can dole out Rs 8,000 per acre for farmers as capital subsidy, which will be credited directly into their accounts. The revenue department, which has undertaken the gigantic land purification program, has already submitted details of 1.5 crore acres of land that are eligible for capital subsidy.

“We are anticipating an expenditure of over ₹6000 crore for the capital subsidy scheme in the

Kharif

season alone. Though we have received tentative figures of eligible farmers, they have to be validated by the concerned departments. We are providing funds for the scheme in the next budget,” Telangana

principal finance

secretary

K Ramakrishna Rao

told TOI.

Setting the ball rolling for the 2018-19 budget preparation exercise, the principal finance secretary has already issued a circular to all departments asking them to submit their budget proposals by January 8. The heads of various departments will have to finalise their proposals and submit them to the finance department by January 10.

The principal finance secretary has also asked them to submit all the proposals in the specified format and not propose new schemes as part of the preliminary proposals.

“The departments have been asked to submit details of the utilisation of funds allotted in the previous budget and also details regarding the leftover works and funds. Asset and liabilities statement should follow the guidelines of fiscal responsibility and management (FRBM) Act and also the number of employees on the rolls,” said the circular.

Though a total expenditure of Rs 1,49,646 crore was proposed for the 2017-18 fiscal year, the total expenditure is yet to cross the Rs 1 lakh crore mark. Due to the disruptions caused by demonetization and GST implementation, the state government could not spend the allocated amount as planned in the 2017-18 budget. Citing the experience of 2016-17, when the expenditure was fixed at Rs 1,30,416 crore but the actual spending stood only at Rs 1,10,000 crore, officials said they were making last minute efforts to step up expenditure.