Hyderabad: The K. Chandrasekhar Rao government is gearing up to present its first full-fledged Budget for the new Telangana state in the second week of July and it’s leaving no stones unturned to ensure fulfilling the party’s electoral promises.
Chief Minister K. Chandrasekhar Rao, has asked all the departments to prepare Budget estima-tes and sources said that the TRS government was contemplating to present a Rs 1 lakh crore Budget, but the final figure would be arrived at after the CM’s consultation with the Cabinet, senior officials of various revenue earning, welfare and other departments.
The Budget Session beginning on July 12 will only last for a week.
With Mr Rao lining up huge electoral promises for implementation, he will require huge funds in the next five years, but as with past governme-nts in united AP, this Budget too is expected to be tax-free. “The Budget Session will be from July 12. It will be for a week. We are committed to implementation of all electoral promises. Our priority is welfare, agriculture, irrigation and other sectors,” finance minister Etela Rajender told this newspaper.
Asked whether the government would present a Rs 1-lakh-crore Budget, Mr Rajender was noncommittal. “It could be that or less. You will come to know when the Budget is presented. But we will ensure that all sections are happy,” he said.
Meanwhile, all eyes are on Mr Rao as well as An-dhra Pradesh Chief Min-ister N. Chandrababu Naidu as to how they will mobilise funds to implement their grand election promises and at the same time ensure tax-free Budgets.
Compared to Mr Rao, Mr Naidu has a bigger task ahead since he did not put a cap on wavier of loans and promised more freebies including waiver of loans for Self-Help Groups among others.
Mr Rao too, however, will require huge funds. He has to waive off crop loans up to Rs 1 lakh which will cost the exchequer about Rs 18,000 crore give three acre land for landless Dalits from August 15, launch the two bed-room housing sche-me for weaker sections costing Rs 3 lakh each, free education from KG to PG through residential schools, complete pending irrigation projects, reimburse fees for students studying in professional colleges, provide old age pension of Rs 1,000 and Rs 1,500 for handicapped etc.
Mr Rao has promised a Rs 1-lakh-crore Budget for the irrigation sector over the next five years to create an ayacut of 10 lakh acres in each district, special Telangana increment to Telangana government employees, a Rs 1-lakh-crore fund for the welfare of Dalits, BCs and minorities to be spent in five years.
Is a Rs 1-lakh-crore Budget feasible?
“Let the government present the Budget. I will then comment,” remarked noted economist Ch. Hanumantha Rao.
“It’s a new state. They have a new policy. To my knowledge, nothing can stop the Telangana government from having a Rs 1-lakh-crore Budget. And it also has nothing to do with the FRBM Act,” said Jagannadham Thu-nuguntla, head, Research, SMC Global Securities.
