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Economic slowdown to shrink Telangana Budget by 8-12 per cent

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.

Published: 06th September 2019 05:21 AM  |   Last Updated: 06th September 2019 01:17 PM   |  A+A-

Telangana Chief Minister K Chandrasekhar Rao, KCR

Telangana Chief Minister K Chandrasekhar Rao. (Photo | EPS)

Express News Service

HYDERABAD:  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. The size of the vote-on-account Budget was `1.82 lakh crore. However, the full Budget to be presented in the State Legislative Assembly on September 9 would be decreased.

Against the backdrop of the slowdown, the State government wanted to present the full Budget in a realistic manner, officials said, adding that the slowdown would have its impact on the state’s revenues too, and the state own tax revenues (SOTR) are expected to witness a marginal fall. 

With the slight reduction in the state revenues and a decrease in Central tax devolution to the state, the size of the Budget was expected to be decreased, they said. The state government, however, would accord priority to welfare and irrigation in the Budget. Committed expenditure like Aasara pensions and others would get sufficient funds. The government, according to sources, may reduce unnecessary expenditure.

The sources added that the state Cabinet is expected to meet on September 8 at Pragathi Bhavan to approve the Budget estimates for 2019-20.

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