11,800-crore special package likely for Telangana
The Telangana government is likely to get Rs 11,800 crore as ‘special package’ from the Centre.Talking to The Hans India after presenting the Budget on Monday, Finance Minister Eatala Rajender said the Niti Ayog had already recommended to the Centre to provide Rs 19,000 crore to Telangana to complete the flagship programmes like Mission Kakatiya, Mission Bhagiratha and 2BHK housing scheme.
Hyderabad: The Telangana government is likely to get Rs 11,800 crore as ‘special package’ from the Centre.Talking to The Hans India after presenting the Budget on Monday, Finance Minister Eatala Rajender said the Niti Ayog had already recommended to the Centre to provide Rs 19,000 crore to Telangana to complete the flagship programmes like Mission Kakatiya, Mission Bhagiratha and 2BHK housing scheme.
Apart from Rs 10,962 crore for the Centrally-sponsored schemes, the state government is expecting Rs 1,700 crore as grant under the 14th Finance Commission and Rs 2,377 crore as other grants, the minister said, adding that the state government is expecting Rs 11, 800 crore as special package this year and is constantly pursuing with the Centre for the release of funds.
He said his government has projected Rs 1.13 lakh crore revenue collections in the new financial year of which share from the Central taxes is around Rs 17,000 crore. Out of Rs 62,000 crore state’s tax revenue, the revenue from Sales Tax would be Rs 46,500 crore, Excise – Rs 9,000 crore and Rs 3000 crore each from taxes on motor vehicles and stamps and registrations.
An amount of Rs 6,600 crore would come from non-tax revenue particularly from the mining sector, he added. As the land values have gone down after the demonetisation, the government withdrew its plan to generate revenue through land sales in 2017-18, he said.
While estimating the fiscal deficit of Rs 26,096 crore and Rs 4,571 crore as revenue surplus, the minister said the total expenditure in the new financial year will be Rs 1.49 lakh crore, out of which Rs 1.08 lakh crore is for revenue expenditure, Rs 30,929 crore under capital expenditure, Rs 5,544 crore for the payment of loans and advances and Rs 4,659 crore would be utilised for public accounts repayment.
Rajender clarified that required funds were allocated in the Budget proposals to meet the financial needs to fill 50,000 jobs announced recently by Chief Minister K Chandrasekhar Rao this year alone.
As the agriculture sector registered 26 per cent growth in the GSDP, the minister said the Budget would help revive the rural economy which is backbone to the state’s growth.
