25 Jul 2024. 02:09 PM.
Today marks a significant event in Telangana’s political landscape as Deputy Chief Minister Mallu Bhatti Vikramarka is set to present the state budget for the financial year 2024-25. This presentation is particularly noteworthy as it will be the first full-fledged budget delivered by the Congress-led government since it came to power, following a decade of interim budgets.
The financial plan session commenced on July 23, 2024, and is scheduled to run until July 31. During this session, the Telangana Legislative Assembly will deliberate on various financial matters, with the Deputy Chief Minister, who also holds the Finance portfolio, taking center stage to outline the government’s financial priorities and allocations. The budget presentation is expected to start around noon today, following a cabinet meeting earlier this morning to finalize the budget details.
In preparation for this momentous occasion, Vikramarka participated in a traditional prayer ceremony at a temple in Hyderabad, reflecting the cultural significance of the event. This statement is anticipated to address several pressing issues, including allocations for technology advancements like 6G and the much-discussed loan waiver scheme for farmers, which has been a focal point of the government’s agenda.
The financial landscape of Telangana has been challenging, with the state grappling with a debt burden that has reached approximately ₹6.5 lakh crore. Therefore, Vikramarka’s presentation will require a careful balancing act between capital and revenue expenditures while also managing the state’s borrowings. The previous interim budget outlined a total expenditure of ₹2,75,891 crore, with significant allocations earmarked for various developmental projects and social welfare schemes.
The political context surrounding the budget is also crucial. Chief Minister Revanth Reddy has been vocal about the perceived injustices from the central government regarding fund allocations. He criticized the recent Union Budget, labeling it as inadequate for Telangana and indicative of a broader neglect of the state’s needs. This sentiment may influence the statement discussions and the government’s stance in the assembly.
As the budget is presented today, all eyes will be on Vikramarka to see how he addresses these challenges and outlines the government’s financial roadmap. The outcome of this financial plan could significantly impact the state’s development trajectory and the political landscape as Telangana moves forward in its governance and economic strategy.
source: ANI
