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Funding for welfare schemes to increase in Telangana

This time, the Telangana government is likely to allocate more funds to the welfare schemes in the state. This information was obtained from the budget 2023-24 discussions that have begun.

Finance Secretary K Ramakrishna Rao invited secretaries and heads of various departments to a meeting to discuss budget proposals for the new financial year, which begins on April 1. The Assembly’s budget session would begin around the end of February or the first week of March.

According to officials, the Finance department is revising the current financial year’s budget estimates. In 2022-2023, the total budget outlay was Rs 2.56 lakh crore.

“The Finance department has been struggling hard to meet the budget estimations due to sanctions imposed by the Centre on the mobilization of the funds through borrowing from the financial institutions. The finance wing proposed to reduce the budget outlay by Rs 30,000 crore and revised it at Rs 2.20 lakh crore,” they said.

Officials said the government was unable to fulfill its promise to spend Rs 17,000 crore on Dalit Bandhu and waive farmers’ loans due to the paucity of funds. However, in the new financial year, the government will make significant allocations to welfare schemes in anticipation of the Assembly elections in November this year, according to sources.

The Chief Minister wishes to see all schemes, particularly Dalit Bandhu, Rythu Bandhu, Aasara pensions, and the double-bed-room housing scheme, carried out more effectively. As a result, the new budget will prioritise welfare programs in terms of funding allocation. Agriculture, Education, and Medical and Health departments are also requesting increased funding to carry out all pending schemes and other infrastructure development projects.

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So far, only 60% of the funds allocated to these wings in the current financial year have been released. According to sources, the restriction on the release of funds was caused by another fund crunch. Funding for the completion of pending development programs will also be made available ahead of the elections, stated officials.

In the ongoing budget preparatory meetings, the Finance department is also expected to make an appropriate decision on the clearance of long-pending bills pertaining to the completion of projects undertaken by the Roads & Buildings, Panchayat Raj, and Municipal Administration & Urban Development wings.

 

 

 

 

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