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Telangana Chief Minister K Chandrashekar Rao has presented a Rs 1,82,017-crore Vote-on-Account Budget for the financial year 2019-20.
Irrigation continues to get a lion's share in the allocations. This year, the government will spend Rs 22,500 crore on various irrigation projects and Rs 20,000 crore agriculture.
Farm loans up to Rs 1 lakh as on December 31, 2018, will be paid off by the State government. The government allocated Rs 6,000 crore towards payments to banks this year.
As promised in the election campaign, the Chief Minister has hiked the Rythu Bandhu grant to Rs 10,000 each (from Rs 8,000) to farmers on every acre they own. This will be in two tranches of Rs 5,000 each ahead of Kharif and Rabi seasons.
He allocated Rs 12,000 crore for the scheme in the Budget.
"We chose to present a Vote-on-Account Budget for 2019-20 as the Centre came out with Vote-on-Account budget. We will present a full fledged one after studying Central priorities, getting clarity on likely Central fund flows," he said.
The other prominent allocations include: Rythu Bima (Rs 650 crore) ; unemployment compensation (Rs 1,810 crore) ; oldage pensions (Rs 12,000 crore) ; and farm loan waiver (Rs 6,000 crore).
Condemns Pulwama killings
Soon after the Assembly began the Budget session at 11.30 am, the Assembly passed a resolution condemning the killing of forty Central Reserve Police Force (CRPF) personnel at Pulwama in Kashmir recently.
Moving the resolution, the Chief Minister, K Chandrashekar Rao, announced a compensation of Rs 25 lakh each to the kin of the slain CRPF men.
Adjourned
After the Chief Minister presented the Budget, Speaker Pocharam Srinivas Reddy adjourned the House for Saturday.
The Budget session will last till February 25.
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