We have come up with a realistic budget: Bhatti

Hyderabad: Terming the vote-on-account budget as more realistic, Finance Minister Mallu Bhatti Vikramarka asserted that unlike the past 10 years wherein the total budget estimates were to the tune of Rs.14.87 lakh crore and the actual expenditure was Rs. 12.25 lakh crore at just 82.4 percent, Telangana stood at the bottom compared to other States like Rajasthan which reported higher expenditure than the budget estimates.

He claimed that the government presented a realistic budget in the House with focus on effective implementation of welfare programmes and curb the wasteful expenditure. Adding further he said, the government was committed to ensure that gap between the budget estimates and actual expenditure was around five to eight percent unlike the previous ten years, when it was hovering around 20 percent.

During the tenure of the previous regime, there was a steep year-on-year rise in the outlay from Rs. 1.06 lakh crore in 2014-15 to Rs. 2.9 lakh crore in 2023-24, however, there was a difference in terms of expenditure which was not in concurrence with the budget estimates.

The Deputy Chief Ministerclaimed that underspending on welfare schemes was the strategy adopted by the previous government which according to him was peculiar to a State like Telangana which is considered a healthy State. “Telangana stood second from last after Punjab when it comes to budget proportional to spending. The States like Rajasthan and Karnataka ended up spending 116 percent and 113 percent respectively. Even the Union government has spent on an average 102 percent, with a minimum of 92 percent. Had we continued the path laid by the previous government we would have ended up with a Rs 3.5 lakh budget,” he emphasised amidst uproar from opposition benches.

Bhatti asserted it is important for the public to be well-informed because misconceptions have arisen from the numbers presented, leading people to think the government would continue funding welfare schemes. He pointed out the situation with Satyam Computers, which was once a source of pride for the Telugu community, to underline his point that transparency is crucial.

He explained that the previous government’s spending habits were unsustainable for welfare schemes, resulting in Financial Corporations for Minorities, Backward Classes, and others lacking funds. He assured, under the current regime, there is a balanced budget, implying better management of funds and sustainability of welfare initiatives.

Clarifying the queries from former Minister Kadiyam Srihari overfiscal deficit which stood at Rs 53,000 crore, Bhatti said the State’s GSDP in 2024-25 was expected to be around 16.3 lakh crore as against Rs. 14.16 lakh crore during the current fiscal which ensured the State was eligible for net borrowings of RS. 56,438 crore.