While India's spending has remained relatively constant in the last 10-15 years compared to its GDP, China's has significantly ramped up defence budget during the period.
Congress Legislative Party leader Mallu Bhatti Vikramarka stated that the Budget presented by the chief minister lacks direction and vision.
With no money from the Centre, the State would not be able to spend from its exchequer on CSS, for which ultimately the Centre would take credit.
According to a recent report by SIAM, the manufacturing of vehicles all across the country had come down by 33 per cent.
The Chief Minister cited economic slowdown in the country and its possible effect on in revenues from the Central government to the State government as reasons for reducing the size of the budget.
CM KCR has decided to present the Budget as Harish Rao was made FM just a day before the session; Harish will present Budget in Council.
The size of the state Budget is expected to be decreased by around 8 to 12 per cent, due to the slowdown of the economy.
Governor ESL Narasimhan had issued a notification on Sunday, summoning the Assembly on September 9.
Since fund for central sponsored schemes given by central government at the end of financial years, especially in March, only 65.45 percentages was able to spent.
Ahead of Budget, CM refers to economic slowdown, stresses on financial discipline
According to state Finance Minister TM Thomas Isaac, Budget Studies Centre of CUSAT should focus on fund utilisation by the Centre, states and Local Self-Government bodies.
The Centre on Friday had announced a slew of measures to boost the economy, including a rollback of enhanced super-rich tax on foreign and domestic equity investors imposed in the Budget.
The tobacco board’s 148th annual meeting was held in Guntur on Wednesday, under the leadership of the new chairman Yadlapati Raghunatha Babu.
According finance officials, the stress will only increase as the repayment of Mission Bhagiratha loan will start soon
Telangana Government shifts focus from Kaleshwaram Lift Irrigation Scheme to Palamuru-Rangareddy Lift Irrigation Scheme in Budget
With work on KLIS Links 1 and 2 over, govt to focus on Palamuru-Rangareddy project