The Deputy Chief Minister (CM) and Finance Minister of Telangana Bhatti Vikramarka Mallu presented the state’s vote on account budget for Financial Year 2024-2025 (FY25) with an outlay of Rs 2,75,891 crore in the State Legislative Assembly in Hyderabad, Telangana.
- This is the first budget presented by the Congress Government which came to power after the recent elections.
Financial Indicators:
i.This outlay of the budget includes Rs 201,178 crore towards revenue expenditure and Rs 29,669 crore for capital expenditure.
ii.The Gross State Domestic Product (GSDP) of Telangana showed an increase in current prices from Rs 13,02,371 crore in FY23 to Rs 14,49,708 crore in FY24.
iii.The economic growth rate of the state showed a downward trend from 14.7% in FY23 to 11.3% FY24.
iv.The budget emphasizes welfare, particularly focusing on implementing the six guarantees promised by Congress before the elections.
- In this regard, Rs 53,196 crore, one fourth of the total revenue expenditure, has been allocated for implementing the guarantees across various departments.
What are the 6 Guarantees?
These six guarantees are Mahalakshmi, Rythu Bharosa, Gruha Jyothi, Indiramma Indlu, Yuva Vikasam and Cheyutha.
i.Mahalakshmi: Under this scheme, women of Telangana will receive the following :
- Rs 2,500 every month
- Liquefied petroleum gas (LPG) cylinders for Rs 500
- Free travel in Road Transport Corporation (RTC) buses
ii.Rythu Bharosa: This scheme is to provide financial assistance to the farmers of Telangana. Farmers will be provided the following:
- Rs 15,000 per acre for farmers, tenant farmers every year
- Rs 12,000 per year for agriculture labour
- Bonus of Rs 500 per year for paddy crop
iii.Gruha Jyothi:
Under the scheme, every household will get 200 units of free electricity.
iv.Indiramma Indlu:
This scheme is for the landless and homeless people of Telangana. Under this, the following will be provided:
- Free of Cost Land for House Construction
- Financial Assistance of Rs 5 Lakh for Construction of House
- Housing Site/ Land of 250 Square Yards to Telangana Movement Activist/ Fighters
v.Yuva Vikasam:
This scheme is for the youth of the state. It includes:
- Vidya Bharosa card worth Rs 5 lakh for students
- Setting up Telangana International Schools in every district
vi.Cheyutha Scheme:
- Rs 4,000 monthly pension for senior citizens
- Free medical and Healthcare upto Rs 10 lakh under the Rajiv Arogyasri insurance. This coverage is increased from Rs 5 Lakh.
Key Highlights:
i.The free bus travel for women costs Rs 300 crore monthly.
ii.Gruha Jyothi gets Rs 2,418 crore allocation. The total allocation for Transco and distribution companies is Rs 16,825 crore.
iii.The Panchayat Raj gets Rs 40,800 crore
iv.Scheduled Caste and Scheduled Tribes Welfare: Rs 13,313 crore
v.Backward Classes (BC) Welfare: Rs 8,000 crore
vi.SC Welfare department: Rs 21,874 crore
vii.ST Welfare department: Rs 13,313 crore
viii.Minorities Welfare: Rs 2,262 crore
ix.Education department: Rs 21,389 crore; including Rs 500 crores for infrastructure improvement.
x.Medical and Health sector: Rs 11,500 crore.
xi.Agriculture department: Rs 19,746 crore; including Rythu Bharosa.
xii.Irrigation department: Rs 28,024 crore.
xiii.Municipal Administration: Rs 11,692 crore; including Rs 1,000 crore for Musi riverfront development.
xiv.Telangana State Road Transport Corporation (TSRTC): Rs 300 crore monthly
xv.Indiramma housing scheme: Rs 7,740 crore.
Others:
i.Gig workers to receive Rs 5 lakh accident insurance plan as part of the social security scheme.
ii.New policy introduction for IT sector skill development, aiming for statewide expansion.
iii.Kakatiya Mega Textile Park will be developed utilizing PM (Prime Minister) Mitra Funds.
iv.Establishment of two leather parks and pharma clusters statewide.
v.Integration of Artificial Intelligence (AI) into rural development initiatives.
Recent Related News:
i.The 23 kilometer long Healthway Cycling Track, India’s first solar-roofed cycling track, was inaugurated in Hyderabad, Telangana, by the state municipal administration and Urban Development Minister K. T. Rama Rao.
ii.PM Narendra Modi visited Telangana on the 1st and 3rd of October 2023. On 1st October 2023, he laid the foundation stone and dedicated to the nation multiple developmental projects worth more than Rs 13,500 crore in Mahbubnagar, Telangana. On 3rd October 2023, he laid the foundation stone and dedicated various development projects worth Rs 8000 crores in Nizamabad, Telangana.
About Telangana:
Chief Minister– Revanth Reddy
Governor– Tamilisai Soundararajan
National Parks– KBR National Park, Mahavir Harina Vanasthali National Park
Wildlife Sanctuaries– Kawal Wildlife Sanctuary, Pranahita Wildlife Sanctuary
