Hyderabad: As the state government’s own tax revenue recorded nearly 20% growth in this fiscal year, considered the highest in the country, Chief Minister K. Chandrashekar Rao focused on ensuring an uninterrupted flow of funds to social protection schemes and development programs in the next budget, which is due to be presented to the Assembly on 3 February.
According to official sources, the CM has ordered Finance Minister T. Harish Rao and Finance Secretary K. Ramakrishna Rao to ensure a steady flow of funds for the existing and new social protection schemes that will be implemented during of the 2023-24 financial year from April 1, while taking into account the projected growth of own tax revenues of 30 percent.
Despite the Centre’s restrictions on lending, including market borrowing and off-budget borrowing in 2022-23, which resulted in a loss of almost Rs 40,000 crore, the state government was able to achieve its fiscal targets through strong tax revenues. , which crossed the Rs 1 lakh crore mark at the end of December and is expected to fetch another Rs 30,000 crore by the end of March.
Social welfare programs include financial assistance of Rs 3 lakh to beneficiaries of four lakh owning plots to build houses, crop loan waiver scheme to waive loans of farmers in balance two categories, up to Rs Rs. 750 crore for Kaleshwaram sightseeing tour among others.
The Dalit Bandhu scheme, a brainchild of the CM, is expected to receive double the funds in the new budget as the allocated funds of Rs 17,500 crore could not be fully spent in this financial year 2022-23 due to legal problems concerning the method of the deputies. selection of beneficiaries. Following High Court directives to end the practice of MPs selecting beneficiaries, the state government is developing new guidelines for the selection process, thus delaying its implementation.
With more beneficiaries added year after year for Rythu Bandhu, Rythu Bima, free electricity for agriculture and Aasara pensions, the CM has asked officials to increase budget allocations to these schemes accordingly in order to ensure their seamless implementation to the benefit of almost 2.50 crore beneficiaries every year. .
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