Business Wire IndiaThe latest budget of newly formed Telangana has an outlay of ₹ 1,30,415 crore for the financial year 2016-17 compared to ₹ 1,15,000 crore of last year. The bulk of capital allocations are towards irrigation, urban development and roads. The state’s fiscal deficit of ₹ 23,467 crore is reasonable at 3.5% of GSDP.
- In a thrust to boost the irrigation sector, the budget proposed ₹ 25,000 crore for irrigation projects and Mission Kakatiya (revival of water bodies).
- An amount of ₹ 6,759 crore has been set aside for Agriculture and Cooperation and Marketing departments.
- The state's own revenue receipts are projected at ₹ 72,412 crore in 2016-17 as compared with ₹ 54,256 crore in revised estimates (RE) 2015-16.
- The State has recorded one of the highest per capita incomes in the country. As against the national average of ₹ 93,231, the per capita income in the State is ₹ 1,43,023 in 2015-16. The higher per capita is due to relatively higher proportion of urban population.
- The Non-Plan Expenditure is ₹ 62,785 crore is less than the Plan Expenditure at ₹ 67,630 crore.
- The total provision proposed for Panchayat Raj and Rural Development is ₹ 10,731 crore, including the provision for MGNREGS.
- The provision proposed for roads and bridges is ₹ 3,333 crore and that for building is ₹ 457 crore.
- It has earmarked ₹ 4,693 crore for Aasara (social security) pensions, ₹ 1,553 crore for women and child welfare, ₹ 1,204 crore for welfare of minorities, ₹ 738 crore for Kalyan Lakshmi (scheme that provides financial help to poor at the time of marriage), ₹ 2,538 crore for welfare of backward classes and ₹ 3,752 crore for tribal welfare.
- As per the budget, farm loan waiver amounting to ₹ 17,000 crore is being implemented, which will put additional stress on the state fiscal position.