Telangana in Union Budget 2023-24

NOB_ Budget allocation for Telangana

NOB-Hyderabad news: The central government presented the interim budget in Parliament on 01.02.2024. Union Finance Minister Nirmala Sitharaman presented the budget with Rs.47,65,768 crores. The budget was introduced without any new schemes. If we take a look at the allocations for Telangana in the central budget, the state will get Rs. 25,639 crore under the share of central taxes. In the current financial year (2023-24), Telangana has been allocated Rs.23,400 crore under the share of taxes. This time it increased another Rs.2,239 crore. Under the centrally sponsored schemes, the state will get Rs.19,760.59 crores. According to the recommendations of the 15th Finance Commission, another Rs.3,200 crore will come to the state under the grant of local bodies. Apart from these three big funds, the state has no significant allocations this time. The state government has asked the center to give national status to the Palamuru-Rangareddy project, to allocate funds to the Kazipet railway coach factory and Bayyaram steel plants, and to release Rs.1800 crore for three years under the backward areas development fund. It also appealed to grant permissions for the Hyderabad-Nagpur Industrial Corridor. To this extent, CM Revanth Reddy had previously appealed to Union Ministers. It is expected that Rs.2,300 crores will be released to the state if this is allowed. Musi river front development and the second phase of the Metro Rail development, Telangana government has asked for funding, Rs.88 crore for strengthening the Anti-Narcotics Bureau and Rs.90 crore for strengthening the Cyber Security Bureau. But, the center did not give any assurance to them in the interim budget.

Leave a Reply