Telangana initiates 2021-2022 Budget preparation process

Telangana Chief Minister K Chandrashekhar Rao has hinted that the 2021-2022 State Annual Budget would see higher allocations in spite of a major setback to the economy due to the Covid-19 pandemic.

On Saturday, he held a high-level review meeting at Pragati Bhavan regarding the estimates of the Budget proposals.

Rao said that due to the pandemic, the State had incurred a loss of Rs 50,000 crore and it's impact has now breached Rs 1 lakh crore. However, the State’s Chief Minister pointed out that in the post-Covid period, the State’s economic activities have revived and the revenues increased in various sectors.

He said that there is a possibility of more allocations in the coming Budget compared to the that of the previous financal year.

Rao took into consideration the revenue flows and examined the department-wise Budget estimates and the financial reports prepared by the officials.

He said that several welfare and development programmes would continue, including the present distribution of the sheep programme. The families of the Kuruma and Yadav communities have benefitted under the scheme and as an extension of 3.7 Lakh sheep already distributed, another 3 lakh sheep would be distributed. The proposals to this affect would be made in the coming Budget, the State’s Chief Minister said.

Rao said the Centre appreciated the sheep distribution policy and also said that Telangana is progressing to become the State with the highest population of sheep.

Similarly, the fish distribution programmes would also be continued as it proved to be a successful scheme and was beneficial to the fishing community in the State.

The Telangana Chief Minister said that the guidelines for the preparation of Budget estimates have been finalised at the high-level review meeting. He also said that the State’s Finance Minister T Harish Rao will hold meetings from Sunday onwards with the officials of the R&B, Panchayat Raj, Municipal Administration, Education, Irrigation and other departments in coordination with the Finance department officials.

The Budget session of the Telangana Legislature is likely to commence from the middle of this month (March).