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Telangana FM Harish Rao presents State Budget for FY 2021-22 with an overlay of INR 2.3 Lakh Crore

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Telangana Finance Minister presents ambitious Rs 2-3 lakh crore budgetOn March 18, 2021, Telangana Finance Minister T Harish Rao presented the State Budget for the FY 2021-22 with an overlay of INR 2, 30, 825┬а Crore. Major Allocations were made towards Agriculture, Roads, Transport, Power, Irrigation & other infrastructure development projects.

  • It is a tax-free Budget
  • Due to the adverse impact of COVID-19, the Gross State Domestic Product (GSDP) of Telangana has declined from 13.5% in 2019-20 to 1.3% in 2020-21.
  • The budget for 2020-21 was over INR 1.82 Lakh Crore.

Fiscal Indicators

  • Revenue Expenditure – INR 1, 69, 383 Crore
  • Capital Expenditure – INR 29, 046 Crore
  • Fiscal Deficit – INR 45, 509 Crore

Sector-wise Allocation

  • Agriculture – INR 25, 000 Crore
  • Panchayati Raj & Rural Development – INR 29, 271 Crore
  • Irrigation Sector – INR 16, 391 Crore

Major Announcements

  • Allocation of Development fund of INR 5 crore to each MLA & INR 800 Crore for MLCs (Member of Legislative Council)
  • INR 610 Crore allocated to construction of new secretariat complex┬аat Hyderabad, Telangana.

CM Dalit Empowerment Programme

Allocation of INR 1, 000 Crore for overall development of Scheduled Castes.

Social Welfare

  • INR 11, 728 Crore for Aasara Pension Scheme
  • INR 2, 750 Crore for Kalyana Lakshmi & Shadi Mubarak
  • INR 11, 000 Crore for construction of double bedroom houses
  • Allocation of INR 3, 000 Crore for providing interest-free loans to Women Self Help Groups.

Allocation for Development of Hyderabad

  • INR 200 Crore allocated for Musi river rejuvenation
  • INR 1000 Crore allocated for Hyderabad metro rail Project

Agriculture

  • INR 14, 800 Crore for Rythu Bandhu, a financial assistance scheme for farmers.
  • INR 5, 225 Crore for Agriculture loan waiver
  • INR 1, 730 Crore for Animal Husbandry & INR 1, 500 crores for Mechanisation of Agriculture.

Education

  • INR 4000 Crore has been allocated for upgrading and modernizing schools run by the Telangana Government.

About Telangana

Chief Minister – K Chandrasekhar Rao
Governor – Tamilisai Soundararajan (currently given additional charge as LG of Puducherry)