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Telangana Finance Minister E Rajender has presented a Rs 1,15,689 crore Budget for the financial year 2015-16, with a revenue surplus of Rs 531 crore and a fiscal deficit of Rs 16,969 crore. This marks an increase of 15 per cent over the last year’s budget of Rs one lakh crore.
Education sector gets about 10 per cent share of the Budget with Rs 11,216 crore, followed by irrigation with Rs 8,500 crore, Energy sector with Rs 7,400 crore, Medical and Health Rs 4,932 crore and the Water Grid project Rs 4,000 crore.
The non-Plan expenditure for 2015-16 is put at Rs 63,306 crore and the Plan expenditure at Rs 52,383 crore.
Presenting the Budget in the Assembly on Wednesday, the Finance Minister said the State suffered heavily last year due to the steep fall in the receipts from the Centre. The shortfall from the promised funds was put at Rs 20,000 crore.
Stating that the 14th Finance Commission identified Telangana along with Gujarat as a ’surplus’ State, the Finance Minister said that the fiscal deficit for the year would be at Rs 16,969 crore. This is 3.49 per cent of the Gross State Domestic Product (GSDP).
The Budget session of Telangana had begun on March 7 on a stormy note, with 11 Telugu Desam Party legislators suspended for disrupting the proceedings and refusing to apologise for showing disrespect to the National Anthem during the Governor’s speech on Saturday.
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