Telangana Finance Minister E Rajender will introduce the first full-fledged Budget for the new State for the financial year 2015-16 in the Assembly on Wednesday.
There is a likelihood of 10 per cent increase in the size of the Budget at Rs 1.10 lakh crore this year as against the Rs 1 lakh crore Budget he presented for the 10 months of the 2014-15.
The Budget session of Telangana had begun on March 7 on a stormy note, with 11 Telugu Desam Party legislators were suspended for disrupting the proceedings and refusing to apologise for showing disrespect to the National Anthem during the Governor’s speech on Saturday.
This year’s Budget is likely to focus on the irrigation, power and welfare sectors. During the last few months, the TRS government has announced two major projects Mission Kakatiya and Water Grid. While Mission Kakatiya is aimed at reviving the tanks, the Water Grid is aiming to lay network of pipes to provide drinking water to all the villages.
The Gross State Domestic Product (GSDP) saw a deceleration in the last four years. From a compounded 10.50 per cent during 2005-2010, the GSDP growth rate fell to 4.5 per cent in the subsequent three years, owing to the political uncertainty in the united Andhra Pradesh.
For the 10 months of the 2014-15 financial year, the Telangana Finance Minister presented the Budget with a little over Rs 1 lakh crore. This included a non-Plan expenditure of Rs 51,989 crore and Rs 48,648 crore of Plan expenditure.