Hyderabad: The government of Telangana will allocate an estimated Rs. 1.6 lakh crores to the state budget for the financial year 2020-21, a 10 per cent increase when compared to last year's budget of Rs. 1.46 lakh crore. The state budget will be presented in the Assembly on 8 March.
Due to the outbreak of the Corona virus national markets and tax returns are likely to be hit. Its impact is predicted to continue till the first three months of the upcoming fiscal year. Officials of the state finance department said the budget has been increased keeping this in mind.
A total of Rs. 12,000 crores is planned to go towards pensions, Rs. 47,000 crores towards wages, subsidies, and interest, and Rs. 7,300 crores for the development of towns and villages. Rs. 10,000 crores is likely to be allocated for electrical concessions and the remaining amount for scholarships, Aarogyasri, Kalyana Lakhsmi, home, education, and conservation departments.
In terms of the state government's income, its minimum income in the last two months of 2014-15 was Rs. 27,659 crores. The state's income in the last two months of fiscal 2015-16 was Rs. 25,000 crores. In the next financial year, the income in the last two months increased to Rs. 34,000 crores. During fiscal 2017-18, it came down to Rs. 25,000 crores, while in the last two months of the financial year 2018-19 the state's income was Rs. 27,610 crores.