Telangana Budget 2023 has welfare flavour to appease voters

The finance minister inflated the budget to ₹2.9 lakh crore from ₹2.56 lakh crore in 2022-23, even while admitting that the Centre had not been very helpful in releasing grants that were due to the state in 2022-23.

The only hope Harish Rao had in realising the revenue, it appears, is that the economy is expected to clock a growth of 15 percent, leading to a higher collection of taxes.

2023-24 ఆర్థిక సంవత్సరానికి గాను ₹2,90,396 కోట్ల‌తో తెలంగాణ వార్షిక బ‌డ్జెట్‌ను శాసనసభలో ప్రవేశపెట్టిన ఆర్థిక శాఖ మంత్రి శ్రీ @BRSHarish. #TelanganaBudget2023 pic.twitter.com/7F9Lefk0pP

— Telangana CMO (@TelanganaCMO) February 6, 2023

Minister slams Centre

However, the finance minister, in the initial part of his address, slammed the Centre for creating hurdles for the development of the state.

He was very specific about lowering the Fiscal Responsibility & Budget Management (FRMB) limit for the state, curtailing its scope to raise loans by ₹15,033 crore, and ensuring that it did not release on frivolous grounds the special grant of ₹723 crore, and ₹171 crore for the nutrition scheme, which were sanctioned by the 15th Finance Commission to the state.

The Centre, among others, had denied ₹1,350 crore due to the state as Backward Areas Development Grant for the last three years, he pointed out.

Harish Rao was magnanimous in making allocations for welfare schemes, which presented a daunting task for him to raise revenues for their implementation.

Related: Telangana FM takes aim at Centre for creating ‘hurdles after hurdles’

‘Golden era’

The finance minister even described the current times as the golden era in welfare schemes. The budget, however, was silent on unemployment allowance, which the youth have been awaiting eagerly.

Harish Rao was generous enough to allocate ₹12,980 crore for the state government’s flagship programme of Dalit Bandhu to help 1,100 beneficiaries in 118 constituencies.

The minister was munificent in allocating ₹7,890 crore for the double-bedroom scheme for 2,000 beneficiaries in each of the 119 Assembly segments. The chief minister will have the discretion of allotting another 24,000 houses.

Then came the Asara scheme, on which the government has pinned great hopes.

A conscientious effort has been made over the years that the Asara pension reaches its beneficiaries from the chief minister, who is projected as the eldest son in each poor family.

The outgo from the budget to fund this scheme will be ₹12,000 crore. Last year’s allocation was ₹271 crore.

Live: Presenting Annual Budget 2023-24 in the Legislative Assembly. #TelanganaBudget2023 https://t.co/8weVvfgHpT

— Harish Rao Thanneeru (@BRSHarish) February 6, 2023

Also read: Minimal allocations for Telangana, Andhra in the Union Budget

₹6.385.2 crore for farm loan waiver

The finance minister, to assuage the farmers, made an allocation of ₹6,385.2 crore towards the farm loan waiver scheme, higher by ₹2,385 crore from the allocation last year.

Rythu Bandhu, another lifeline for the BRS, has an allocation of ₹15,075 crore, higher by ₹275 crore over last.

The power subsidy bill will be ₹12,000 crore. When it comes to capital expenditure, Irrigation Department walks away with the cake as it has an allocation of ₹26,885 crore.

The finance minister made an allocation of ₹2,500 crore for the R&B roads, and another ₹2,000 crore for the maintenance of Panchayat roads that are crying for attention.

Public Debt Outstanding (accumulated debt) estimated: ₹3,57,059 crore (23.8 percent of GSDP)

2023-24:

Revenue receipts: ₹2,16,566.97 crore
Revenue expenditure: ₹2,11,685.97 crore
Net surplus: ₹4,881

Overall budgetary position 2023-24:

Total receipts: ₹2,89,772.65 crore
Total expenditure: ₹2,90,396 crore
Net deficit: ₹-623.35 crore.