Telangana Budget 2024 updates | Congress government’s first budget is vote-on-account

On power sector, FM Bhatti Vikramarka Mallu says previous Congress led government had introduced policy of free power supply for agriculture. Farmers benefited from free power supply scheme which brought cheers in their lives. The state government is committed to supply 24 hours quality power to farmers 

Telangana government proposes Rs.2,418 crore for the Gruha Jyothi scheme to supply 200 units of free power to eligible families. Steps being taken to implement the scheme: FM Bhatti Vikramarka Mallu

“In future, Musi River will be a place of tourist attraction. In this Budget we are proposing Rs. 1,000 crores, for the project,” says FM Bhatti Vikramarka Mallu 

FM Bhatti Vikramarka Mallu blames the previous BRS government of failing to utilise the funds made available under the central sponsored Prime Minister Awas

Yojana scheme. Declares that the present government will utilise central funds optimall

FM Bhatti Vikramarka Mallu says 3,500 houses will be sanctioned to each Assembly constituency under Indiramma housing scheme. For the scheme Rs.7,740 crore proposed in the budget.

Indiramma housing scheme is one one of the six guarantees promised by the Congress govt in Telangana. House sites are proposed to be given to those who do not have houses and Rs 5 lakh financial assistance to those who own a site, under the scheme.

State government committed to get rightful share of water in Krishna and Godavari rivers. We will not shy away from fighting for justice and not spare any effort to protect the rights of the people.

Our Government planning to cut down wasteful expenditure in day to day government operations and also by curbing expenditure on unwarranted infrastructural assets. The budget focuses on people’s overall development, progress and their happiness, the Finance Minsiter said.

Telangana’s Health, Medical, and Family Welfare Department’s budget outlay for the fiscal year 2024-25 saw a cutback compared to the previous year. The current budget stands at ₹ 11,500 crore, marking a decrease of ₹661 crore from the 2023-24 budget of ₹12,161 crore.

While presenting the Budget, Finance Minister Bhatti Vikramarka Mallu acknowledged the success of the Rajiv Arogyasree scheme, where the Congress government has doubled the threshold for medical treatment from ₹5 lakh to ₹10 lakhs, aiming to alleviate the financial burden on families facing higher medical costs.

Addressing infrastructure concerns, the minister assured that the government would prioritise the completion of super-specialty hospitals, medical and nursing colleges which are currently in various stages of construction. “The Nizam’s Institute of Medical Sciences (NIMS) is slated for expansion, with the government committing to providing necessary assistance to enhance the institute’s services. Additionally, plans include the construction of a new building for the Osmania General Hospital (OGH),” he said.

- Siddharth Kumar Singh

Presenting Vote on Account for 2024-25, Telangana FM Bhatti Vikramarka Mallu says as per Budget Estimates total expenditure is proposed to be ₹2,75,891 crore, revenue expenditure ₹2,01,178 crore, capital expenditure is ₹29,669 crore.

Telangana FM Bhatti Vikramarka Mallu says estimated total expenditure is ₹2,24,625 crore, of which Revenue expenditure is ₹1,69,141 crore, Capital expenditure is ₹24,178 crore, Revenue surplus is ₹9,031 crore, and fiscal deficit is ₹33,786 crore.

Presenting the vote on account for 2024-25, Telangana FM Bhatti Vikramarka Mallu says as per accounts of 2022-23, expenditure stood at ₹2,04,523 crore, revenue surplus is ₹5,944 crore, fiscal deficit is ₹32,557 crore 

Our aim is to make Telangana a front runner in Information technology in the country. Developments in IT sector would lead to providing better facilities to the rural areas and its people... ready to roll out a new IT policy.

We will also utilise Artificial Intelligence to better the living conditions in the rural areas as well as for their development.

Landlocked Telangana plans to set up two dry ports, with these facilities goods transport for export will be feasible and cost effective too... greatly incentivize exports of goods from the State, the finance minister said.

Telangana govt proposes to develop clusters to establish Micro and Small industrial units... will effectively tap funds from the Centre’s Micro Small Enterprises Cluster Development Programme (MSECDP). Utilising PM Mithra funds, will develop Kakatiya Mega Textile Park... also to set up two leather parks with central assistance.

FM Bhatti Vikramarka Mallu says Chief Minsiter Revanth Reddy with Industries and IT Minister D. Sridhar Babu held consultations with heads of about 50 MNCs at the World Economic Forum in Davos, Switzerland, and apprised them of agri and industrial policies of Telangana government.

Impressed by govt’s visionary approach, globally famous IT and other industrial big wigs have come forward to invest in Telangana... investments to the tune of ₹40,000 crore are expected to come to the State, which will have a great positive impact on the State’s GDP.

The government vows to fulfil all promises made during election campaign. The Warangal declaration for farmers, Youth declaration in Hyderabad, SC-ST declaration announced in Chevella, the BC declaration and Minority declaration announced in Kamareddy will be implemented

Modalities for implementation of the schemes to supply LPG cylinder at ₹500 under Gruha Jyothi scheme and provision of 200 units free electricity per month to eligible consumers soon. Govt committed to implement Rythu Bharosa, Indiramma houses, Cheyutha and Yuva Vikasam... we will implement them at the earliest.

We have proposed ₹53,196 crore for implementation of these schemes. Provision of additional funds will be made as required, once a complete assessment is made.

Rajiv Aarogyasri has been revamped and government doubled the limit for medical treatment from ₹5 lakh to ₹10 lakh. Additionally to ensure uninterrupted medical treatment to the needy, pending dues released... measure will provide succor to patients affected by stoppage of treatment owing to pending dues to hospitals.

Telangana government is providing funds to TSRTC to the tune of ₹300 crore each month for the free RTC Bus Transport Facility for women under Mahalakshmi Scheme that was launched on December 9. We will continue support the scheme, asserts the finance minister.

Per Capita Income based on present day prices is expected to be ₹3,43,297 in 2023-24, It was ₹3,09,912 last year but the growth rate is decreased: FM Bhatti Vikramarka Mallu

Secondary and tertiary sectors of Telangana’s economy also saw a decline in growth rates. Notable decreases were observed in sectors like electricity, gas, water supply, trade and repair services, hotels and restaurants, railways, and air transport, the finance minister said.

Manufacturing sector, however, presented a contrasting trend growing at 5.9% compared to just 1.3% in the previous year. Other sectors such as real estate, construction, mining and quarrying also experienced higher growth rates in 2023-24 compared to preceding year, he added.

Gross Value Added in the crops sub-sector decreased from ₹49,059 cr in 2022-23 to ₹45,723 cr in 2023-24... primarily due to adverse seasonal conditions including delay in onset of the Southwest monsoon, fluctuations in rainfall during the season. Also during critical stages of crop growth in August and October, rainfall was markedly deficient, Finance Minister Bhatti Vikramarka Mallu said.

These conditions, coupled with prolonged dry spells, groundwater depletion, and insufficient water levels in the Krishna basin, led to a drastic reduction in the sown area of key crops such as paddy, cotton, maize, red gram, and Bengal gram, he added.

In 2023-24, Telangana’s economy demonstrated varied performances across its sub- sectors, influenced by a range of factors. The primary sector, particularly agriculture, experienced a notable decline: FM Bhatti Vikramarka Mallu 

Differing growth rates at current and constant prices between Telangana and India suggest a higher rate of inflation in State... also evidenced by higher Consumer Price Index, which stood at 6.65% in December 2023, placing the State 5th in the country in terms of inflation rate, compared to India’s 5.69%: FM Bhatti Vikramarka Mallu

In fiscal 2023-24, GSDP of Telangana showed an increase in current prices from ₹13,02,371 crore in 2022-23 to ₹14,49,708 crore.

However, the economic growth rate declined from 14.7% in 2022-23 to 11.3% 2023.24 during the same period. Rate of growth at national level showed a sharper decline, from 16.1% to 8.9%. Consequently, Telangana’s growth was higher by 2.4 percentage points.

Economic growth rate in Telangana, in constant prices, declined by 1 percentage point to 6.5% in 2023-24 from 7.5% in previous year whereas increase in growth was marginal a 0.1% at national level. Thus Telangana economy experienced a sharp decline, says the finance minister.

To get government’s finances back on track, we have dispensed with wasteful expenditure, aim to maintain fiscal discipline, give primacy to people’s welfare. Previous govt’s budget was far from reality... inflated the receipts and created an illusion that they are providing huge funds for different schemes: Finance Minister Bhatti Vikramarka Mallu

The state economy has suffered tremendously. Instead of spending on infrastructure development, the previous government has frittered it on non-essential activities. The

Government’s credibility suffered as it defaulted in clearing the bills for the expenditure it incurred: Finance Minister Bhatti Vikramarka Mallu 

State is in a dire economic condition. We had already bared the facts before the people through a White Paper. Even a prosperous State like ours has been reduced to a begging bowl due to the misdeeds of the earlier rulers: Telangana Finance Minister Bhatti Vikramarka Mallu