Express News Service
Hyderabad, February 5
In an exercise to strike a balance between the economic recession and next elections, Finance Minister K Rosaiah today presented the Rs 1.05 lakh crore vote-on-account budget for the year 2009-10. In the budget prepared for six months, Rosaiah reduced allocations to several key sectors, however tried to please students, weaker-sections, farmers and women by announcing new sops for them.
Though Rosaiah termed it a `realistic' budget during the trying times, the budget gave thrust to `social justice' formula with an eye on elections. Though the State was under the impact of an unprecedented global slowdown, Rosaiah exuded confidence that the State could still achieve an eight per cent growth.
As this was the final budget presented by the present government, Rosaiah announced several new schemes in his budget speech. The Government already took a decision to introduce contributory pension scheme for SHG women with members contributing Rs 365 per year and an equal amount by the Government. Every women member would get Rs 500 per month upon attaining the age of 60. An amount of Rs 365 crore was allocated for this in the budget.
Rosaiah said the Government wanted to provide interest subsidy on loans for higher stdies abroad for children of members of Indira Kranti Patham (IKP). A provision of Rs one crore is made for the same in the budget.
The fee reimbursement scheme for students would be extended to economically backward sections apart from SC,BC and STs from 2009. A provision of Rs 370 crore is made in budget.
The State Government which has written-off Rs 1,820 crore loans of weaker-sections, has decided to introduce a new scheme for assistance for income generating activities by contributing 50 per cent subsidy to all categories of SC,ST, BC, minorities, women and the disabled. The remaining 50 per cent would be given as bank loan.
Rosaiah also proposed a one-time write-off of loans sanctioned to weavers' cooperative societies and individual weavers under PMRY and Rajiv Yuva Shakti schemes. A sum of Rs 312 crore was earmarked in the budget. The Finance Minister announced that ``community college'' concept would be introduced to enhance the employability of youth. Under this, the State will start evening courses in leading to diploma or degree for working people. It was proposed to start evening polytechnic courses in the existing engineering colleges and one ITI in every Assembly constituency.
Rosaiah said that the facility of drawing salaries through treasury would be extended even to municipal employees from April, 2009. On agriculture sector, Rosaiah said that the State achieved 47 per cent increase in foodgrain's production against the target of 40 per cent and 7.13 agricultural growth against the target of 6 per cent per year. Of the total budget, the expenditure under non-plan would be Rs 63,252 crore and plan expenditure would be Rs 41,892. The fiscal deficit is estimated to be Rs 12,092 crore, which would be 2.93 per cent of GSDP.
HIGHLIGHTS
* Budget size: Rs 1,05,144 crore
* Fee reimbursement to EBC students
* Loans at 50 per cent subsidy to weaker-sections for income generating activities.
* Waiver of loans taken by weavers
* Community college for employability and night colleges to hone up skill.
* Salaries to municipal employees through treasury
* Interest subsidy to wards of IKP members for higher studies
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