Hyderabad, Feb.22 (NSS): The Chief Minister K. Chandrasekhar Rao today presented the vote on account budget for the financial year 2019-20 in the State Assembly, allocating funds for a number of welfare schemes promised by the ruling party on the eve of the last Assembly elections, thus proving that it was keen on fulfilling the assurances.
The total budgetary outlay proposed by the Chief Minister for the financial year is Rs. 1,82,017 crore. Of this, the revenue expenditure is Rs. 1,31,629 crore and the capital expenditure is Rs.32,815 crore. In 2019-20 the estimated revenue surplus is Rs.6,564 crore and fiscal deficit is Rs.27,749 crore. The fiscal deficit is 2.81 per cent of GSDP.
Rao said that State’s own revenues for Budget Estimates (BE) for 2019-20 are at Rs.94,776 crore in comparison with the revenue estimates (RE) for the financial year 2018-19 at Rs.72,777 crore. Transfers from the Centre as per the BE 2019-20 is Rs.22,835 crore while in RE 2018-19 these were estimated at Rs.28,042 crore. He said while continuing all the development and welfare schemes, Government proposes to introduce new schemes as per the promises made during the elections. The Government worked with intense focus and delivered programs like a sacred duty. The blessings of the people are a vote on the performance. In future too, people’s aspirations will guide us to introduce innovative schemes. Bangaru Telangana- where verdant green crops are swaying in the wind, where there is inclusive growth – is our goal and we rededicate ourselves towards that noble goal. “The Budget proposed will lead to balanced development of all sections. I commend the Budget for the approval of the August House,” he said.
The Chief Minister said that as per the Finance Accounts of the State Government certified by the Accountant General, the total expenditure in 2017-18 was Rs. 1,43,133 crore and added that the revenue receipts were Rs.88,824 crore. The expenditure on revenue account was Rs.85,365 crore. The revenue surplus was Rs.3,459 crore. The total expenditure of the state was Rs.1,43,133 crore and capital expenditure was Rs.23,902 crore. “ As per the Revised Estimates, the total expenditure in 2018-19 is estimated at Rs.1,61,857crore. Of this, revenue expenditure is Rs.1,19,027crore while capital expenditure is Rs.28,053 crore. The estimated surplus on revenue account Rs.353 crore”, he added.
Beginning the budget speech, KCR said that Telangana, the twenty ninth State of the Indian Union, was taking firm steps towards being a successful and forward-looking State. “In a short period of time, we have overcome several adversities, deepened our social and economic foundations, and have become a model for the rest of the country.