HYDERABAD: Finance Minister Mallu Bhatti Vikramarka will present the first full Budget of the Congress government after the formation of Telangana on Thursday.
According to sources, the Budget for the financial year 2024–25 would be around Rs 2.5 lakh crore to Rs 2.9 lakh crore.
The vote-on-account Budget, which was presented by the Congress government in February after it came to power in December, will expire by July 31. Accordingly, the duration of this Budget will be from August 2024 to March 2025.
It is expected that the government will concentrate on, and allocate a major chunk of the funds for, the implementation of six guarantees and promises made by the Congress during the Assembly elections. However, government sources insisted that the aim would be to ensure balanced allocations to welfare activities and developmental works.
The government has made it clear that it considers the agriculture and irrigation sectors as priorities. Sources said that the agriculture sector will get the highest allocation. This will account for the Rs 31,000 crore needed to implement the crop loan waiver scheme. Apart from this, an estimated Rs 15,000 crore would be required for implementing the Rythu Bharosa scheme.
Well-placed sources said that the government was keen on the completion of irrigation projects such as Palamuru Rangareddy Lift Irrigation Scheme at the earliest. They said that the Irrigation department has submitted proposals for allocation of Rs 19,000 crore for it.
The government is likely to allocate sufficient funds for ongoing schemes that have been implemented recently such as subsidised LPG cylinder, free bus travel for women, Gruha Jyothi and Indiramma Housing schemes.
Meanwhile, there is still no clarity on whether the government will announce the implementation of the Rs 2,500 per month for women and also the unemployment allowance promised by the Congress during the Assembly elections.
On Wednesday, officials were busy giving final modifications to the Budget documents after analysing the Union Budget. Sources said that the officials of the Finance department prepared estimates of the funds Telangana will receive from the Union government as its share of Central Sector Schemes (CSS).
Highest allocation for agriculture?
The government has made it clear that it considers the agriculture and irrigation sectors as priorities. Sources said that the agriculture sector will get the highest allocation. This will account for the Rs 31,000 crore needed to implement the crop loan waiver scheme.
Apart from this, an estimated Rs 15,000 crore would be required for implementing the Rythu Bharosa scheme. Well-placed sources said that the government was keen on the completion of irrigation projects like the Palamuru Rangareddy Lift Irrigation Scheme at the earliest. They said that the Irrigation department has submitted proposals to allocate Rs 19,000 crore for it.