-Galla S Kiran Kumar,Bureau Chief Telagana (Andhra Pradesh)
As part of the plan to adopt a ‘reasonable policy in public expenditure’, the government has reviewed the ongoing schemes. Merged those that did not provide results and had the same intent.
This is the financial strategy of the state.
Today, Hyderabad: As part of the plan to adopt a ‘reasonable policy in public expenditure’, the government has reviewed the ongoing schemes. Merged those that did not provide results and had the same intent. After a comprehensive review, it has been decided to continue only those schemes which are beneficial to the state. The state government has made this clear in its financial policy. It prioritized spending on less productive schemes and spending those funds on those that deliver better results. It said that priority is being given to completing the ongoing works rather than taking up new works. Reorganization aimed at coordination between departments. As a part of this, the housing department was merged with R&B and measures were taken to curb corruption by bringing transparency in the registration system.
Special focus on tax collection
The government has prioritized increasing investment expenditure in 2022-23. Measures have been taken for effective tax collection without imposing any additional tax burden on the people. Along with curbing the discretionary powers, it has given importance to transparent procedures. As a result, the revenue of GST and registrations has increased significantly. The own tax revenue in 2022-23 is Rs.1,10,592 crore, while the tax revenue in 2023-24 is Rs.1,31,029 crore. It explained that the special measures taken to curb tax evasion have yielded results.
Loans not exceeding 25 percent of GSDP
The state government has claimed that it is borrowing less than the 15th Finance Commission estimates. In its report, the 15th Finance Commission estimated that the state debt in GSDP will be 33.1 percent in 2023-24, 32.8 percent in 2024-25, and 32.5 percent in 2025-26, while the state government has stated in its budget reports that the state government is dealing with debt with full commitment. It has been explained that it is focused on having less than 25 percent of GSDP loans. It explained that the percentage of loans in the GSDP in the financial year 2023-24 is only 23.8 percent. In 2021-22, the share of loans in GSDP was 24.69 percent, while in 2022-23 it is 24.33 percent as per the revised estimates, it said.
The new budget is the touchstone for welfare
BC Commission Chairman Krishnamohan Rao
Today, Hyderabad: BC Commission Chairman Vakulabharanam Krishna Mohan Rao said that Telangana’s new budget is a cornerstone for welfare and it will work towards development as well as raising the living standards of the people. He said that budget formulation and allocation of funds reflect the vision of Chief Minister KCR. TS Foods Chairman Rajeev Sagar thanked Minister Harish Rao in the Legislative Assembly for allocating huge funds for women’s welfare and Dalit Bandhu. Mahesh Bigala, coordinator of India’s diaspora departments, and minority leader Badruddin thanked the minister that the budget is ideal for the country.
