Telangana Budget: Telangana Deputy Chief Minister and Finance Minister Bhatti Vikramarka Mallu on Thursday presented a budget of Rs 2.91 lakh crore with a total Rs 2.21 lakh crore revenue and Rs 33, 487 crore capital expenditures in the Legislative Assembly.
The total revenues were estimated at Rs 2,90,814 crore, including Open Market Loans of over Rs 57,000 crore. "Telangana’s Gross State Domestic Product (GSDP) in 2023-24 is Rs.14,63,963 crores. This is 11.9 per cent higher than the previous year. At the national level, this growth rate is at 9.1 per cent," said Telangana Deputy CM while presenting State Budget 2024-25.
Rs 72,659 crore to agriculture
The state government proposed to allocate Rs 72,659 crore to agriculture. "We have resolved to extend farm insurance to the farmers by joining the Pradhana Manthri Fasal Bhima Yojana (PMFBY) from this year. The premium that is to be paid by the farmer will be paid by the state Government itself. Crops will be insured without the farmer spending a single penny," he said.
"Paddy cultivation is very extensive in Telangana. Many times even though he gets a bountiful crop, the farmer suffers due to lack of remunerative prices for the products. The government has decided to encourage the cultivation of “Sanna Rice”. We have identified 33 varieties of such rice and have announced a bonus of Rs 500 per quintal for these verities," he added.
Additionally, Rs 21,292 crore was proposed for the Education department, and Rs 22,301 crore for Irrigation. The budget also includes Rs 29,816 crore for Panchayati Raj and Rural Development.
Telangana’s debt reached Rs 6.71 lakh crore mark
“Telangana’s debt has reached Rs 6.71 lakh crore mark. In the last 10 years the state government debt has increased by ten times without any development proportionate to that,” Bhatti pointed out.
After the congress government took over, Rs 35,118 crore debt was raised while repaid loans worth Rs 42.892 crore, both principal and interest, he added.
(With agencies input)
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