HYDERABAD: The size of the State Budget for 2020-21 will be modest, anywhere between `1.4 lakh crore to `1.5 lakh crore. For the first time, Finance Minister T Harish Rao will present the Budget in the State Legislative Assembly on Sunday.

As the State’s growth rate dropped to just six per cent, the size of the Budget may not witness quantum jump this time. The State government may moderately expect another six per cent additional growth rate over the 2019-20 Budget.

The revised Budget estimates of the State may be around `1.2 lakh to `1.3 lakh crore against `1.46 lakh crore. The State was unable to realise `10,000 crore estimated through the sale of lands. Based on the revised estimates of the current year, the next year Budget estimates would be between `1.4 lakh crore to `1.5 lakh crore.

However, the State government is seriously contemplating augmenting its revenues for continuing the welfare and development programmes.But, the chances of State imposing any tax burden in the Budget are very remote and it remains to be seen how the State would mop up additional resources.

Guv’s address
In her address to the joint session of the State Legislature on Friday, Governor Tamilisai Soundararajan said: “The severe economic challenges in the country for the past several months had an impact on Telangana State also. Yet, due to strong administrative policies and fiscal discipline, the State was able to withstand the situation.”

“The silver lining is that while other States are showing negative economic growth, Telangana is able to keep its head above water. My government has decided to pursue fiscal discipline due to the prevailing economic scenario in the country. My government, however, will fulfil all its promises made to the people. All the programmes and schemes will continue and search for new avenues of income will be undertaken to better our revenue sources. With this positive note my government will move forward. The government is expected to strike a healthy balance between the welfare programmes and development projects,” she added.

Harish Rao’s first Budget
Finance Minister T Harish Rao will be presenting the Budget for the first time on Sunday. As the State’s growth rate dropped to just six per cent, the size of the Budget may not witness quantum jump this time. The government is seriously contemplating augmenting its revenues for continuing the welfare and development programmes