The economic slowdown in the country had its impact on the Telangana State Budget outlay for the financial year 2019-20.
The proposed expenditure for 2019-20 declined to 1,46,492.30 crore from 1,82,017 crore shown in the Vote-On-Account Budget presented before the Lok Sabha elections this year.
Of the 1,46,492.30 crore, revenue expenditure is 1,11,055.84 crore and the capital expenditure is 17,274.67 crore.
Chief Minister K. Chandrasekhar Rao, who presented the Budget in the Legislative Assembly on Monday, reiterated his government’s commitment to allocate more funds to agriculture and welfare sectors to better the lives of farmers and general public.
In his 50-minute budget presentation, the Chief Minister did not hesitate to place the facts and actual situation before the people and said: “It is a harsh reality that due to economic slowdown, the revenues of both the Centre and the State have come down. The economic slowdown led to some setbacks.”
The budget is formulated based on the facts and realities as they exist today with a revenue surplus of 2,044.88 crore while the fiscal deficit is 24,081.74 crore, he stated.
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September 10, 2019