Telangana proposes Rs 33,487 crore capital expenditure for 2024
This marks the first full budget presented by a Congress-led government since the formation of Telangana. The budget focuses on significant capital expenditure, reflecting the government’s commitment to infrastructure development and economic growth. It highlights the new administration’s priorities in shaping the state’s future trajectory and addressing key developmental challenges.
Telangana Budget 2024 Overview: Key Allocations and Fiscal Strategy
The Telangana government, led by the Congress party, presented its first full budget since the state’s formation. The budget, amounting to Rs 2.91 lakh crore, reflects the administration’s focus on comprehensive development, including significant investments in agriculture, education, infrastructure, and welfare programs.
Fiscal Highlights and Revenue Projections
The budget outlines a total revenue of Rs 2.21 lakh crore and capital expenditures of Rs 33,487 crore. The state’s total revenues, including Open Market Loans, are projected at Rs 2,90,814 crore, with loans exceeding Rs 57,000 crore. Deputy Chief Minister and Finance portfolio in-charge, Mallu Bhatti Vikramarka, presented the budget, emphasizing the government’s strategic allocations across various sectors.
Major Sectoral Allocations
Agriculture: A substantial allocation of Rs 72,659 crore has been earmarked for agriculture, underscoring the state’s commitment to bolstering this critical sector. The funds are expected to support various initiatives aimed at improving productivity, ensuring food security, and providing financial assistance to farmers.
Education: The Education Department is set to receive Rs 21,292 crore. This investment aims to enhance educational infrastructure, improve the quality of education, and increase access to learning resources across the state.
Irrigation: Rs 22,301 crore has been allocated to irrigation projects, reflecting the importance of water management and infrastructure in supporting agricultural activities and ensuring sustainable water resources.
Panchayati Raj and Rural Development: The government has proposed Rs 29,816 crore for Panchayati Raj and rural development initiatives. This allocation is intended to strengthen rural infrastructure, promote local governance, and enhance rural livelihoods.
Welfare Programs: Significant funds have been allocated to various welfare programs:
- SC Welfare: Rs 33,124 crore
- ST Welfare: Rs 17,056 crore
- BC Welfare: Rs 9,200 crore
These allocations aim to support marginalized communities, ensuring equitable access to resources and opportunities.
Healthcare and Infrastructure:
- Medical and Health: Rs 11,468 crore has been dedicated to improving healthcare facilities, enhancing public health services, and addressing medical infrastructure needs.
- Roads and Buildings: Rs 5,790 crore is allocated to the Roads & Buildings Department to improve connectivity and infrastructure.
Other Key Allocations:
- TRANSCO & DISCOMs: Rs 16,410 crore to enhance power infrastructure and services.
- Home Department: Rs 9,564 crore for law enforcement and public safety.
- Industries: Rs 2,762 crore to support industrial growth and development.
- IT: Rs 774 crore to foster technological innovation and infrastructure.
- Women and Child Welfare: Rs 2,736 crore to support initiatives aimed at improving the well-being of women and children.
- Forest & Environment: Rs 1,064 crore to promote environmental conservation and sustainable practices.
Infrastructure Development
A notable allocation includes Rs 1,525 crore for the Regional Ring Road (RRR) project, which aims to improve transportation connectivity and support regional development. This project is expected to play a crucial role in enhancing economic activities and accessibility within the state.
Fiscal Challenges and Debt Management
Deputy Chief Minister Vikramarka highlighted the state’s fiscal challenges, noting that Telangana’s debt has reached Rs 6.71 lakh crore. Over the past decade, the state’s debt has increased significantly, with limited proportional development to justify the rise. Since the Congress government took office, Rs 35,118 crore in debt has been raised, while Rs 42,892 crore has been repaid, including both principal and interest. This highlights the pressing need for effective debt management strategies and sustainable fiscal policies.
Strategic Focus and Future Outlook
The Telangana government’s budget reflects a strategic focus on comprehensive development, balancing investments in key sectors with the need for fiscal prudence. The allocations indicate a commitment to improving the state’s infrastructure, supporting vulnerable populations, and fostering economic growth.
The emphasis on agriculture, education, and rural development aligns with the broader goals of enhancing quality of life and ensuring equitable development across the state. The focus on welfare programs highlights the government’s intent to support marginalized communities, ensuring that growth and development benefits all segments of society.
As the state navigates its fiscal challenges, the government’s approach to managing debt and optimizing resource allocation will be crucial. The proposed budget aims to create a foundation for sustainable growth, addressing immediate needs while planning for long-term stability and prosperity.
Conclusion
The Telangana Budget 2024 presents a comprehensive plan to address the state’s development challenges and opportunities. With significant allocations across various sectors, the government aims to drive economic growth, enhance public services, and improve the quality of life for its residents. As the first full budget presented by a Congress-led government in Telangana, it sets the tone for the administration’s priorities and approach to governance, focusing on inclusive and sustainable development.