TS FM Speech

Express News Service
Hyderabad, November 5:
   The efforts of Chief Minister K Chandrasekhar Rao in the last five months to reorient Telangana State are amply reflected in the first Budget of Telangana introduced by Finance Minister Etela Rajender to the State Legislative Assembly on Wednesday.
  The Finance Minister presented the Budget of Rs 1,00,637.96 crore with a revenue surplus of Rs 301.02 crore. The net surplus budget is Rs 5.5 crore and it is tax free. However, the fiscal deficit is huge amounting to Rs 17,398.72 crore. The fiscal deficit as percentage of GSDP is 4.79. The State requested the Central government to allow more market borrowings for this year. The budget is for only ten months, up to March, 2015.
  According to sources, in the last five months, the Telangana state spent only Rs 20,000 crore and decided to utilise the remaining amount of the Rs 1 lakh crore budget before March.
    All the new schemes and programmes, which had already announced by the government, got due allocations in the Budget and they would be spend in the next four months. "We have decided to reduce the gap between the allocation and actual spending," the Finance Minister told reporters after the Budget speech. He said that the first Budget was intended to realise Bangaru Telangana.
   In his maiden Budget speech, Rajender said: "Telangana State is the result of prolonged struggle by two generations of people over six decades during which many lost whatever little they had and some even their lives. This is a profound moment and I rise to present the first Budget for the new State of Telangana. This is also a historic occasion for four crore people of the State, as they take control of their own resourcesd and fate".
   "I will ensure judicious use of revenues for fulfilling the hopes and aspirations of not only the present but also future generations," the Finance Minister said.
  Rajender further added that "you are aware opportunities were lost and problems accumulated as a result of deliberate neglect of Telangana. The immense task before the government is not only to correct historic wrongs but also quickly impart social and economic justice for vast majority of the people.


quotes:

"I am pround and fortunate enough to present the first Budget for Telangana" - Finance Minister Etela Rajender

"The Budget truly reflected the aspirations of the people of Telangana," - Chief Minister K Chandrasekhar Rao

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