Budget proposals to be prepared in new formats

Hyderabad: State Chief Secretary S P Singh on Friday instructed all the departments to submit the budget proposals for 2017-18 financial year by taking into consideration the demonetisation affect and the proposed new tax regime GST (Goods and Service Taxes) which would come into force from July this year.

At the high-level meeting with the Secretaries of all the important departments here, the top official said that the budget proposals would be prepared in a new format prescribed by the Union government. As the State decided to scrap the traditional plan and non-plan allocations, he said funds would be earmarked as capital and revenue expenditure in the new budget.

All the departments would maintain two accounts. Salaries and maintenance would come under establishment account and grants, subsidies and scholarships would come under development account. Singh also instructed the officials to ensure the submission of utilisation certificates for all the Union government sponsored schemes this year.

He wanted the details of all the posts allocated to each department and the employees working along with the budget proposals. Finance Secretary Rama Krishan Rao, Secretary to Planning B P Acharya and others were present in the meeting.