By The Telangana State Government has presented a ₹2.91 lakh crore budget for the financial year 2024-25, with a strong focus on the welfare and development of agriculture and allied sectors.
Finance Minister Mallu Bhatti Vikramarka introduced the budget in the Assembly on July 25, outlining an estimated revenue expenditure of ₹2.2 lakh crore and a capital expenditure of ₹33,487 crore.
Despite the substantial allocations for development.
The budget reflects the state’s continued reliance on borrowings, with public debt estimates placed at ₹62,112 crore for the fiscal year. Additionally, the debt repayment component is set at ₹17,101 crore, highlighting the financial challenges the state faces in managing its debt burden while attempting to foster growth and development.
Key highlights of the budget include significant allocations for various welfare schemes aimed at improving the livelihoods of farmers and the rural population. The government has prioritized investments in infrastructure, healthcare, and education, seeking to enhance the overall quality of life for its citizens.
Despite the substantial allocations for development, the reliance on borrowings has raised concerns about the long-term fiscal sustainability of the state. Critics argue that while the budget aims to stimulate growth and support vulnerable sectors, the increasing debt levels may pose risks to the state’s financial stability.
The budget presentation also comes at a politically charged time, with the state government and opposition parties debating the effectiveness and implications of the proposed expenditures. Finance Minister Vikramarka defended the budget, stating that the allocations were necessary to ensure the continued progress and welfare of Telangana’s citizens.
In summary, the Telangana State Government’s budget for 2024-25 seeks to balance welfare initiatives and developmental projects with the challenges posed by a significant debt burden. The emphasis on agriculture and allied sectors underscores the government’s commitment to supporting key areas that directly impact a large portion of the state’s population.
