Telangana undertakes budget exercise for financial year 2022-23

Hyderabad: The Telangana government has begun the exercise for composing budget proposals for the financial year 2022-23.

According to media reports, the state government may continue to stress on agriculture and related activities. It is also likely that health and family welfare may gain a higher share, keeping in mind the challenge of COVID-19 and the need to expand public health infrastructure.

The proposals for the upcoming financial year should be submitted by way of identifying an expenditure for various schemes. The revised expenditure details for the current financial year (2021-22) should also be sent along with proposals for the upcoming year, as per the directive of the finance department.

Special Chief Secretary of Finance, K Ramakrishna Rao has instructed all the heads of the departments to submit their budget proposals before January 17, 2022. These proposals will be scrutinized by the secretaries of each department and will be sent to the Finance department on or before January 18, 2022.

As per the budget proposals for the year 2021-22, the state government valued total expenditure at Rs. 2,30,826 crores, which is a 13 per cent increase over the actual expenditure in 2019-20. The fiscal deficit in 2021-22 is estimated to be at Rs. 45,510 crore which is 3.94 per cent of the state’s Gross State Domestic Product (GSDP). As per revised estimates, in 2020-21, the fiscal deficit is predicted to be 4.33 per cent of GSDP, which is higher than the budget estimate, i.e., 3 percent of GSDP.