Hyderabad
The Congress government in Telangana is expected to make significant financial allocations for its six key promises in the upcoming 2024-25 Budget, which will be presented on July 25. Deputy Chief Minister Mallu Bhatti Vikramarka, who oversees finance, will introduce the budget based on the state’s priorities.
The budget is anticipated to be around Rs 2.75 lakh crore, similar to the vote-on-account budget presented earlier this year. In February, Vikramarka proposed a Rs 2.75 lakh crore budget for FY24-25, down from Rs 2.90 lakh crore in the previous year. The revenue and capital expenditures were set at Rs 2.01 lakh crore and Rs 29,669 crore, respectively, compared to Rs 2.11 lakh crore and Rs 37,525 crore the previous year. While revenue spending is expected to stay the same, capital expenditure may see an increase.
The government has allocated Rs 53,196 crore for the implementation of the six guarantees promised during the recent Assembly elections. The Finance Department has nearly completed the budget preparation, incorporating proposals from various ministries.
The Cabinet, led by Chief Minister A. Revanth Reddy, will approve the budget on July 25 before it is presented in the Assembly. The final budget details will be adjusted based on revenue collected in the first quarter and funds from the Centre. There may be changes in allocations for centrally-sponsored schemes and tax estimates. Preliminary estimates in the vote-on-account budget included Rs 4,084 crore for free bus travel for women.
