Telangana presents Rs 2.91 lakh crore Budget for 2024-25

The Telangana government on Thursday (July 25) presented a Budget of ₹2.91 lakh crore with total ₹2.21 lakh crore revenue and ₹33, 487 crore capital expenditures.

The Budget, presented in the state Assembly by Deputy Chief Minister and Finance Minister Bhatti Vikramarka Mallu, pegged the total revenue estimate at ₹2,90, 814 crore, including Open Market Loans of over ₹57,000 crore.

“Telangana’s Gross State Domestic Product (GSDP) in 2023-24 is ₹14,63,963 crore. This is 11.9 per cent higher than the previous year. At the national level, this growth rate is at 9.1 per cent,” he said.

₹72,659 Cr to agriculture

Vikramarka said the state government has proposed to allocate ₹72,659 crore to agriculture.

The government also proposed to spend ₹21,292 crore for the Education department and ₹22,301 crore for Irrigation.

That apart, an allocation of ₹29,816 crore has been proposed for the Panchayati Raj and Rural Development department.

‘Debt increased 10 times in 10 years’

Bhatti said the state’s debt has reached ₹6.71 lakh crore mark.

“In the last 10 years, the state government debt has increased by ten times without any development proportionate to that,” he pointed out.

After the Congress government took over, ₹35,118 crore debt was raised while loans worth ₹42.892 crore, both principal and interest, were repaid,” he added.

(With inputs from agencies)