The Telangana government on Thursday presented a Rs 2.91 lakh crore state budget for 2024-25, with the total revenue expenditure expected to be Rs 2.21 lakh crore and capital expenditure Rs 33,487 crore.
In the past 10 years, the state has racked up an overall debt of Rs 6.71 lakh crore, according to Deputy Chief Minister and Finance Ministry In-charge Mallu Bhatti Vikramarka who tabled the budget in the assembly.
Telangana Budget 2024 | Top Points
Revenue Expenditure and Capital Expenditure: The total revenue expenditure is estimated at Rs 2.21 lakh crore, while the capital expenditure is allocated Rs 33,487 crore.
Debt Burden: The state's overall debt has increased to Rs 6.71 lakh crore over the past 10 years, with a substantial rise in debt relative to income growth.
Revenue Estimates: The total revenue is estimated at Rs 2,90,814 crore, including Open Market Loans of over Rs 57,000 crore. The state expects to generate Rs 1,38,181.26 crore revenue on its own and receive Rs 35,208.44 crore in non-tax revenue and Rs 26,216.38 crore in tax revenue from Telangana's central share.
Fiscal Deficit and Revenue Surplus: The fiscal deficit is pegged at Rs 49,255.41 crore, while the revenue surplus is Rs 297.42 crore.
Sector-wise Allocation: The budget allocates funds to various sectors, including:
- Agriculture: Rs 72,659 crore
- Education: Rs 21,292 crore
- Irrigation: Rs 22,301 crore
- Panchayath Raj and Rural Development: Rs 29,816 crore
- Health: Rs 11,468 crore
Hyderabad Development: The budget has allocated Rs 10,000 crore for the development of Hyderabad. According to the Hindu report, this includes:
- ₹100 crores for extension of Hyderabad Metro to Airport
- ₹500 crores for Hyderabad Metro Rail
- ₹500 crores for the extension of the Metro to Old City
- ₹50 crores for MMTS
- ₹1500 crores for the Musi Riverfront project
- ₹3065 crores to Greater Hyderabad Municipal Corporation (GHMC)
- ₹500 crores to Hyderabad Metropolitan Development Authority (HMDA)
- ₹3385 crores to Metro Water Works
- ₹200 crores to Hyderabad Road Development Authority (HYDRAA)
Financial Discipline: The government aims to streamline the system, pay salaries and pensions timely to 3.69 lakh government employees and 2.87 lakh pensioners from March 2024.
Gross State Domestic Product (GSDP): Telangana's GSDP stands at Rs 14,63,963 crore, with a growth rate of 11.9 per cent.
(With PTI Inputs)
