The Telangana Budget Assembly session for fiscal year (FY) 2021-2022 is all set to begin today.
On the 15th of March, the Telangana Rashtra Samithi (TRS) Government would address the most awaited budget session. According to the sources, the annual outlay for the 2021-2022 financial year is expected to be in the range of Rs. 1.85 lakh crores and Rs. 2.05 lakh crores.
In the past 7 years, this would be the highest amount for the budget of the State.
K.Chandrashekar Rao, the Chief Minister of Telangana, asked the concerned officials to prepare a budget considering realistic issues and welfare programmes in the State.
In 2020 tax revenues amounting to Rs. 1,700 crores (April) and Rs. 3,682 crores (May) were collected amid the lockdown. In December the State witnessed revenue collections of about Rs. 7,707 crore in December 2020 and around Rs. 7,812 crores in January 2021.
With the improved revenues, it is expected the State Government would have an increased outlay, compared to last year.
In 2020, the Telangana Government announced an outlay of Rs. 1.82 lakh crores. However, due to the pandemic, the Government had to revise the same, reducing it to Rs. 1.46 lakh crores.
An official close to budget development said, “Despite the adverse impact of COVID-19 and subsequent cuts in Central grants, the State Government had successfully implemented all the welfare schemes for the poor and the needy without imposing any cuts. The State Government, however, could not implement certain promises due to shortage of funds which will be accommodated in the State budget for 2021-22. Hence, this would be the largest ever budget presented in the State so far.”
In addition, as per KCR’s recent announcement, the budgetary allocations for sheep and fishlings distribution programmes apart from supporting traditional occupations like barbers and washermen communities would be made.
Official sources have indicated that adequate allocations would be made for agriculture and irrigation sectors including construction of the much awaited Palamuru-Rangareddy Lift Irrigation Scheme during the current fiscal besides strengthening the agriculture marketing system.
The session would kickstart from the 15th of March with the Telangana Governor Tamilisai Soundararajan addressing the joint session, the Assembly and the Legislative. The address of Ms. Soundarajan is scheduled to address the Members of the Legislative Assembly (MLAs) and the Members of the Legislative Council (MLCs) on the 15th and the 16th of March.
On the two days, the House would be adjourned after paying tributes to the legislators who passed away recently.
The Assembly would discuss the Governor’s address on the 17th of March and the budget proposals would be presented on the 18th of March. T. Harish Rao, the Finance Minister of Telangana, would present the State budget for 2021-2022.
The budget session is likely to continue for a week, but the Business Advisory Committee would meet to decide the final duration of the session.
Stay tuned for further updates.
