Telangana budget highlights: In 17 points, all you want to know in brief
Telangana budget was presented today. Lauding the Rs 1,74,453.84 crore budget for 2018-19, Chief Minister K Chandrasekhar Rao called it balanced with all segments being duly taken care of. The major focus was on agriculture with the government unveiling a Rs 8,000 per acre investment support scheme and a Rs 5 lakh insurance cover for farmers. Another related area to agriculture that got special attention was irrigation. State Finance Minister E Rajender presented the budget in the assembly. Here are the Telangana budget 2018 highlights:
1. Total expenditure in 2018-19 is Rs 1,74,453.84 crore. Of this, revenue expenditure is Rs 1,25,454.70 crore and capital expenditure is Rs 33,369.10 crore
2. Telangana revenue is expected to touch Rs 73,751 crore in the current financial year
3. Agriculture allocations in the budget was Rs 12,000 crore for the Investment Support Scheme.
4. Investment support of Rs 4,000 per acre per crop for two crops would be provided to farmers from 2018-19 onwards under the scheme.
5. Rs 500 crore earmarked for farmers to be covered with a life insurance policy of Rs 5 lakh under a new Farmer Group Insurance Scheme.
6. Rs 522 crore allocated for promotion of farm mechanisation, Rs 127 crore for promotion of micro-irrigation.
7. Rs 15,788 crore has been proposed for agriculture and marketing sectors.
8. An amount of Rs 25,000 crore has been allocated to the irrigation sector.
9. Government is spending Rs 5,300 crore per year on social security pensions to the aged, widows, toddy tappers, and weavers, among others (41,78,291 persons).
10. Rs 1,450 crore spend proposed towards 'Kalyana Lakshmi' and 'Shaadi Mubarak' schemes (financial assistance to women for marriage).
11. Rs 16,453 crore allocated to SC Special Development Fund (SDF) and Rs 9,693 crore to ST SDF in 2018-19.
12. Rs 12,709 crore has been proposed for the Scheduled Caste Development department. For Tribal Welfare department, an amount of Rs 8,063 crore has been proposed.
13. For welfare of backward classes, Rs 5,920 crore has been provided and Rs 2,000 crore proposed for welfare of minorities.
14. Rs 7,375 crore has been allocated to the medical and health sector.
15. For construction of double bedroom houses for poor, Rs 2,643 crore has been allocated.
16. Rs 15,563 crore proposed for Panchayati Raj and Rural Development department and Rs 5,575 crore for Roads and Buildings.
17. Municipal Administration got Rs 7,251 crore and power sector has been given Rs 5,650 crore while Rs 10,830 crore has been allocated for School Education.
State of economy
During the current year 2017-18, the economy is estimated to log a growth of 10.4 per cent in real terms as compared with the national GDP growth of 6.6 per cent.
Advance estimates put the growth of manufacturing sector at 7.6 per cent in 2017-18.
The growth of agriculture and allied sectors is estimated to reach 6.9 per cent in 2017-18.
GSDP at current prices was Rs 6,41,985 crore last year (2016-17) and is estimated to increase to Rs 7,32,657 crore in 2017-18.
Telangana per capita income at current prices is estimated to increase by 13.4 per cent to Rs 1,75,534 in 2017-18 from Rs 1,54,734 in 2016-17 - national growth is 8.6 per cent.
Total expenditure in 2017-18 is estimated at Rs 1,42,506 crore. Of this, revenue expenditure is Rs 1,06,603 crore, while capital expenditure is Rs 25,447 crore.