Hyderabad: The deputy chief minister and finance minister of Telangana Mallu Bhatti Vikramarka presented the vote on account Budget for 2024-25 on Saturday, February 10, with an outlay of Rs 2,75,891 crore, with Rs 53,196 crore estimated to be spent on implementation of six guarantees.
Presenting the Budget in the Assembly, Mallu Bhatti Vikramarka pegged the revenue expenditure at Rs 2,01,178 crore and capital expenditure at Rs 29,669 crore.
Budget 2024-25 reduced by over 5% from 2023-24
The 2023-24 budget was at Rs 2,90,396 crore while 2024-25, is at Rs 2,75,891 crore. There is a decrease of Rs 14,109 crore in the budget for 2024-25 compared to the previous year, indicating a reduction of over 5% from the 2023-24 budget to the 2024-25 budget.
In the 2023-24 budget former finance minister Harish Rao, revenue expenditure was projected at Rs 2.11 lakh crore and capital expenditure Rs 37,525 crore.
Telangana Cabinet approves vote-on-account Budget
A full-fledged Budget for 2024-25 will reportedly be presented after the Lok Sabha elections.
Presenting the Budget in the Assembly, Mallu Bhatti Vikramarka said that the previous government had ruined the economy. “For instance, they allocated Rs 17,700 crore for the Dalit Bandhu Scheme however not a single paisa was spent on it. Likewise, there are discrepancies in many schemes,” the finance minister said.
Meanwhile, Bhatti Vikramarka reiterated that all the guarantees given by the party in elections will be implemented and aspects like revenue, debts and the Central funds will be covered by the Telangana Budget.
What is vote-on-account budget approved by the Telangana government?
Vote on account budget or an interim budget is a short-term budget, valid for a short period, generally leading up to the elections.
The Telangana government has released its interim budget ahead of the upcoming Lok Sabha elections, which is generally passed without much discussion, unlike a complete budget.
The interim budget allows the government to carry out its function until the voting on the demands for grants, as well as the passing of the Finance Bill and the Appropriation Bill.
A vote-on-account budget only includes government expenditures, while an interim budget covers both receipts and expenditures.
