Economy Current Affairs
Telangana and AP Budget 2018-19
Category : Economy Current Affairs
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1. Telangana Budget 2018-19.

In the Budget presented in the Legislative Assembly in Hyderabad on March 15, 2018, Finance Minister Rajender laid emphasis on reviving the rural economy. Telangana Finance Minister Eatala Rajender on Thursday presented the last full budget of his government for 2018-19 with a total outlay of ?1,74,453.84 crore, giving a lion’s share of the allocations to agriculture, irrigation and power sectors.

* Medical devices hub to be set up at Sultanpur in Sanga Reddy district.

* Mega Food Park would come up at Buggapadu in Khammam district.
* Four lakh youth would get employment once eco-Pharmacity becomes fully functional at Mucherla.
* The government would take steps to fill up all vacancies in the states. Of 1.10 lakh vacancies identified, steps have been initiated to fill up 83,000 posts while 27,000 vacancies were filled
* Rs 5,800 crore have been allocated to the Police department.
* Rs 7,200 crore allocated for municipal administration including Rs 300 crore for Warangal municipal corporation and Rs 400 crore for other municipal corporations. No financial assistance for GHMC.
* As many as 6,200 new industries were set up in the state under TSIPASS. Rs 1.18 lakh crore investments have come to the state
* Rs 7,370 crore allocated for health sector, Rs 2,800 crore for education department
* For power sector Rs 5,650 crore have been allocated, ongoing power plants construction would be completed.
* Rs 75 crore allocated for journalists welfare and Rs 100 crore for advocates welfare.
* Rs 500 crore allocated for construction of new collectorates and district police offices. In the last budget Rs 600 crore were allocated.
* To improve green cover in the state, Rs 1,166 crore allocated for Telanganaku Haritha Haram scheme.
* Rs 1800 crore allocated for Mission Bhagiratha scheme to give piped water to all the households in the state.
* Distribution of three acres land to landless Dalits will be continued this year too Rs 1470 crore earmarked for the same.
* For development of Backward Classes, Rs 1000 crore have been allocated to MBC Corporation.
* Rs 1790 crore allocated for women and child welfare schemes.
* Rs 250 crore for Yadagirigutta and Rs 150 crore Bhadradri temples development.
* For government`s flagship programme, 2 BHK housing project, Rs 2,600 crore allocated.
* For Shadi Mubarak and Kalyana Lakshmi schemes, financial assistance to poor, Rs 1450 crore have been allocated.
* New Panchayat Raj bill will be introduced in the present session.
* This year too, the government has allocated Rs 25,000 crore for irrigation projects, the amount will be used to complete all pending irrigation projects including Palamuru-Ranga Reddy project.
* Rs 12,000 crore have been allocated towards input subsidy to farmers, Rs 500 crore have been earmarked for crop insurance and Rs 167 crore for promoting micro irrigation.
* State revenue estimated for the current financial year is Rs 73,751 crore.
* Revenue expenditure for the year current financial is Rs 1,25,464 crore.
* State budget is of Rs1,74,453 crore
* Telangana GSDP is expected to touch 10.02 this year
* Telangana finance minister Etela Rajender presents budget for 2018-19.
* Appropriation bill will be taken up on the last day of session on March 27. The budget session began on Monday with the governor`s speech. It was decided that another BAC meeting will be held soon to decide bills and other discussions as suggested by the members of the Assembly.

2. Andhra Pradesh Budget 2018-19.

Amid the ongoing tussle with the Centre over Special Category Status (SCS) demand for Andhra Pradesh, the state’s finance minister Yanamala Ramakrishnudu today presented a Rs 1.91-lakh-crore budget, and projected a revenue surplus of Rs 5,235 crore, for the financial year 2018-19. Ramakrishnudu said the government has vowed to make “every citizen in this state a happy person.” The minister said, “A happy state is to be built on the pillars of sustainable and equitable socio-economic development, environment conservation, preservation and promotion of culture and, last but not the least, good governance.”

The minister said that the state is at “crossroads” because of ” increasing indifference of the Central government in extending our entitlements as per the AP Reorganisation Act, 2014 and the assurances made by the then Prime Minister on the floor of Rajya Sabha (in February 2014).”
However, the finance minister expressed hope that steps taken by the state government would take Andhra Pradesh forward and help maintain high growth rate. “AP is the only state that has the power and knowledge to create an ecosystem of the knowledge economy that is innovative and futuristic,” the finance minister was quoted as saying by PTI.
* Rs 1.91-lakh-crore budget for 2018-19 is around 21.69 per cent higher than Rs 1.56 lakh crore budget of 2017-18.
* Andhra’s fiscal deficit expected to touch Rs 24,205 crore. This is over Rs 3,000 crore less than 2017-18.
* Per capita income of state increased to Rs 1,42,054 in 2017-18, which is a 14.87 per cent jump Rs 1,23,664 in 2016-17
* Focus on Education, rural development: Rs 24,185 crore allocated for education; 20,815 crore for rural development.
* Welfare scheme: Rs 13,722 crore allocated for welfare schemes, which is an increase of 20.78 per cent.
* Irrigation gets Rs 16,978 crore; agriculture and allied services – Rs 12,355 crore.
* Allocations to government departments and specific schemes hiked substantially, a year before general elections in April next year.
* Andhra Pradesh Finance Minister said, “In 2018-19, I propose a revenue expenditure of Rs 1.50 lakh crore (an increase of 19.35 per cent) and a capital expenditure of Rs 28,678 crore (an increase of 30.60 per cent), including Rs 9,351 crore towards principal repayment of public debt.” He added, “We are at the crossroads of development and deficit, perpetuated by the increasing indifference of the Central government in extending our entitlements as per the AP Reorganisation Act, 2014 and the assurances made by the then Prime Minister on the floor of Rajya Sabha (in February 2014).”