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State Budget to Focus on Welfare and Development

The Chief Minister is keenly watching for the policies to be outlined in the Union Budget to give final touches to the State Budget.

Published: 27th February 2015 06:06 AM  |   Last Updated: 27th February 2015 08:00 AM   |  A+A-

KCR

HYDERABAD: Chief Minister K Chandrasekhar Rao will have a pre-budget meeting with officials concerned on Saturday, immediately after the Union Budget is presented in Parliament. The Chief Minister is keenly watching for the policies to be outlined in the Union Budget to give final touches to the State Budget. Finance Minister E Rajender will present his second budget in the Assembly on March 11.

Sources said the State Budget would focus on improving the quality of life and make the government’s intent clear on development programmes like Water Grid and Mission Kakatiya. The KCR government is expected to allocate a big chunk of the budget to its flagship programmes. “The focus will be on welfare and all the flagship programmes of the State,” the sources said.

The State government was able to spend around 65 per cent of the allocations made in its interim budget. “We presented budget only for three months. The allocation of AIS officers was done in January. Even then, we have been able to spend 65 per cent of the allocations,” an official explained.

According to sources in finance department, the State could not get revenue from the Centre as expected. The State expected Central financial assistance to the tune of Rs 21,000 crore, compensation for CST to the tune of Rs 22,000 crore and Rs 5,000 crore financial assistance for the newly-created Telangana State. Besides, the Centre could not relax the FRBM from the present 3 per cent to 4.79 per cent. On the State government’s part, it could not generate Rs 6,500 crore through sale of lands.

Debt Question

While presenting the interim budget last year, Finance Minister E Rajender had said the debt burden on TS would be around Rs 67,000 crore and felt clarity on the extent of the debt burden would be known in the next budget. However, the Centre has till now didn’t give any clarity on the same. Hence, the State government is going ahead with preparation of the budget on the assumption that the burden would be Rs 67,000 crore.



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