Telangana Finance Minister Etala Rajender on Monday unveiled State Budget 2016-17 with an outlay of Rs.1.30 lakh crore and a fiscal deficit of 3.5 per cent.
Of the proposed Rs.1,30.415.87 crore expenditure, non-plan portion will be Rs.62,785.14 crore and Plan spending Rs.67,630.73 crore. While the outlay is better compared to the Rs.1.15 lakh crore for 2015-16, it is less in the context of neighbouring Andhra Pradesh 2016-17 budget outlay of Rs.1.35 lakh crore. (In 2015-16, the total outlay of Andhra Pradesh was Rs.1.13 lakh crore).
This was not, however, totally unexpected as for sometime the two Telugu speaking States seem to have realised the importance of giving up the game of one upmanship.
Presenting the Budget, in a speech lasting over a hour, the Finance Minister declared that the Budget was “unprecedented as the proposed Plan expenditure is higher than that under Non-Plan. This has been done without compromising on non-plan commitments by a combination of rationalisation of expenditure and resource augmentation,” he explained.
Telangana State Budget 2016 Highlights:
The borrowings under the FRBM legislation are likely to be a little higher in 2016-17, he said, adding that the Budget estimates indicate a revenue deficit of Rs.3,718.37 crore and a fiscal deficit of Rs.23,467.29 crore. “The higher revenue surplus is entirely on account of the proposed allocation of Rs.25,000 crore to the irrigation sector, which is mostly capital.”
In line with the emphasis on rationalisation of expenditure, the Finance Minister said: “A number of Plan schemes with similar activities have been clubbed together in a number of departments and a few schemes with only a salary expenditure have been shifted to non-plan from plan. Mission Bhagiratha and the two-bed room housing scheme are proposed to be funded entirely from extra budgetary resources. Therefore, no provisions have been made under the Plan for these schemes, except the provision required for counterpart funding.”
Mr.Rajender said that as compared with the Plan expenditure of the combined State, the proposed plan expenditure in Telangana for 2016-17 is higher. This is a record. Cutting down wasteful expenditure, revenue augmentation and enhancing allocations for welfare are our goals.”
Highlights of Telangana budget 2016-17:
- Telangana Finance Minister Eatala Rajender has presented a Rs. 1,30,415 crore budget for the financial year 2016-17
- Presenting the budget in the Assembly on Monday, he said he is allocating Rs. 25,000 crore for irrigation sector.
- The Plan Expenditure is put at Rs. 67,630 crore, while the Non-Plan Expenditure stands at Rs. 62,785 crore.
- The State’s own revenue receipts are pegged at Rs. 72,412 crore as against Rs. 54,256 crore last year.
- The Budget estimates for 2016-17 indicates a revenue surplus of Rs. 3,718 crore. The fiscal deficit is at Rs. 23,467 crore or 3.5 per cent of the GSDP.