The Telangana Government is likely to present the 2023 Budget of the State in February.
The ruling Bharat Rashtra Samithi (BRS) Government would hold the Budget session of the Telangana State Legislative Assembly in the first week of February. Mr. T. Harish Rao, the Finance Minister of Telangana, would present the 2023-2024 Budget either on the 3rd of February or the 5th of February.
Mr. K. Chandrashekar Rao, the Chief Minister of Telangana, would take a final decision in this regard to this. He is scheduled to hold a high level meeting on the 21st of January, Saturday, at Pragathi Bhavan.
According to sources, the State Budget is expected to be around Rs. 2.85 lakh crore to Rs. 3 lakh crore for 2023-2024. In regard to this, Mr. T. Harish Rao led the finance departments already started Budget preparations a couple of weeks ago and obtained necessary proposals from all government departments.
It is to be noted, the State Government is planning to release funds and other necessary budget funds for the growth of the Telugu State. The Telugu State under the leadership of Mr. K. Chandrashekar Rao recorded 19% to 20% growth in the State owned Tax Revenue (SOTR,) the highest in the country.
The SOTR comprises both tax and non tax revenue, enabling the State to contribute to the nation’s growth. As per estimations of the experts, Telangana lost nearly Rs 15,000 crore of SOTR due to the Centre’s restrictions in 2022-2023. However, the preliminary estimates indicate that Telangana continues to maintain a higher growth rate in the Gross State Domestic Product (GSDP) at more than 10% at constant prices.
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