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KCR calls Cabinet meet to rework budget
The Telangana state cabinet will meet here on Monday to discuss the implications of demonetisation on the state economy and the measures to put the same back on track.
CASH CRISIS
Hyderabad: The Telangana state cabinet will meet here on Monday to discuss the implications of demonetisation on the state economy and the measures to put the same back on track. According to sources, Chief Minister K Chandrasekhar Rao has asked the ministers to come with concrete suggestions on how to pull the state finances out of problems following the decision to demonetise Rs 1000 and Rs 500 notes. Based on the proposals, the government is likely to take measures and make allocations to the various departments and welfare schemes on priority basis in the next four months of this financial year.
The Chief Minister has also asked the ministers to present department-wise status reports on the allocation and utilisation of funds released so far for the schemes. Official sources said the cabinet is also likely to discuss the possibility of cutting down on the allocations for Irrigation, Roads & Buildings and other infrastructure projects drastically during the fourth quarter of current financial year and that money would be utilised for welfare schemes like pensions, health and education as the state was reeling under severe financial crisis.
Meanwhile, the Chief Minister held a review meeting on Sunday and told the ministers and officials that the government cannot be a mere spectator to the situation arising out of demonetisation. “There cannot be any stalemate in transactions,” he said. KCR emphasised the need to take effective measures by the government to overcome the problems. He asked the Chief Secretary to gear up the District Collectors and instruct them to discuss with the bankers to educate people to move towards cashless transactions in the future.
The Chief Minister told Finance Secretary Ramakrishna Rao to prepare a detailed note on the impact, implications and other aspects of demonetisation of high denomination notes on the State to be tabled before the State cabinet tomorrow. This would help the cabinet to take a view on issue.
