This time the full budget will be presented in Telangana. According to the information, there is a possibility of a surplus of Rs 3800 crore from the government.
oi-Neeraj Kumar Yadav
Gearing up to present the final budget in this term for the financial year 2023-24, the BRS government will present not an interim but a full budget. The first assembly session of this government was held in January 2019. Ruling out the possibility of an interim budget, sources in the government said that the interim budget is presented only when the tenure of the government is three months or less.
“BRS government has eight months tenure in this financial year. So budgeting is being done in full swing.”Interestingly, the Comptroller and Auditor General (CAG) mentioned amid discussions between the central and state governments That he has not received the details of the outstanding liabilities of the State.
As per the revised estimates, Telangana is expected to have a revenue surplus of Rs 3,755 crore in 2022-23, which is equivalent to 0.29% of GSDP. Telangana’s revenue surplus in 2021-22 was Rs 4,395 crore (0.38% of GSDP). The state’s revenue deficit in 2020-21 was Rs 22,298 crore (2.30% of GSDP).
This is met by inter-governmental borrowing, which results in an increase in the total liabilities of the state government. The fiscal deficit in 2022-23 is estimated to be Rs 52,167 crore (4% of GSDP). This is equivalent to 4% of the GSDP limit set by the central government in the Union Budget for 2022-23 (of which 0.5% will be made available if power sector reforms are implemented).
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Full budget will be presented in Telangana likely to have surplus of Rs 3800 crore
Story first published: Saturday, January 21, 2023, 22:03 [IST]