Hyderabad: Nearly Rs 30,000 crore of the Budget funds are set to remain unspent this year.
While the TS government had presented annual Budget for Rs 1.15 lakh crore for the 2015-16 fiscal, the expenditure till October 2015 was not even 45 per cent.
The finance department, which collected expenditure details from all the departments from April-October 2015, found that only Rs 48,523 crore was spent, which is less than 42 per cent of the total Budget.
Even in this, Rs 43,076 crore was revenue expenditure and Rs 5,447 capital expenditure.
Officials found the reason for lower spending was because of tight financial condition on account of lower revenues accrued through collection of VAT and sale of government lands.
“There is a deficit of around 13 per cent with regard to VAT collection. It fell short by Rs 2,487 crore till October 2015 when compared with Budget targets.
Moreover, the government's provision made in the budget to earn Rs 13,500 crore through sale of lands has also failed. Less than Rs 500 crore was generated out of this. All this impacted budget allocations and spending," said a finance official.
Going by the current situation, officials estimate that the total expenditure for 2015-16 fiscal will be in the range of Rs 85,000 crore to Rs 90,000 crore by March-end. This shows there would be a deficit of nearly Rs 30,000 crore in expenditure.
