Telangana: Congress Presents Rs. 2.91 Lakh Crore Budget for 2024-25

Hyderabad: The Congress government has unveiled its first comprehensive budget, proposing an outlay of Rs. 2,91,159 crore for the fiscal year 2024-25. This new budget is approximately Rs. 15,000 crore higher than the interim budget of Rs. 2.76 lakh crore presented in February and marginally above the Rs. 2.9 lakh crore proposed by the previous BRS government for 2023-24.

Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka introduced the State budget in the Legislative Assembly. The budget proposes revenue expenditure of Rs. 2,20,945 crore and capital expenditure of Rs. 33,487 crore.

Bhatti Vikramarka highlighted in his speech that the State's debts have escalated to Rs. 6.71 lakh crore by the end of 2023-24, compared to Rs. 75,577 crore in 2014-15. He emphasized the government's efforts to maintain fiscal discipline and restore the economy by repaying most of the loans.

Agriculture and allied sectors received the highest priority in the budget with an allocation of Rs. 72,659 crore. Other significant allocations include Rs. 29,816 crore for Panchayath Raj and Rural Development, Rs. 22,301 crore for Irrigation, Rs. 21,292 crore for Education, and Rs. 11,468 crore for Medical and Health.

The budget did not allocate funds for the much-publicized Abhaya Hastham (six guarantees) except for Rs. 2,418 crore for the Gruha Jyothi Scheme and Rs. 723 crore for the subsidized LPG cylinder scheme. Rs. 1,525 crore has been allocated for the Regional Ring Road for this financial year, with total expenditures projected at Rs. 13,522 crore for the northern part and Rs. 12,980 crore for the southern part. Additionally, Rs. 10,000 crore has been set aside for the development of Hyderabad, covering GHMC, HYDRAA, HMDA, HMWSSB, and others.

The budget also includes Rs. 33,124 crore for the SC Sub-plan Development Fund and Rs. 17,056 crore for the ST Sub-plan Development Fund. Rs. 16,410 crore has been allocated for power transmission and distribution companies. A nominal allocation of Rs. 2,762 crore for Industries and Rs. 774 crore for Information and Technology was also made.