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Telangana Govt mulls more subsidies
The Telangana government will have bear a bigger subsidy burden in 2017-18 as it is mulling to introduce more subsidy schemes and increase the subsidy component of the existing programmes in the next financial year.
A hefty 7,000-crore more subsidy burden on exchequer likely
Hyderabad: The Telangana government will have bear a bigger subsidy burden in 2017-18 as it is mulling to introduce more subsidy schemes and increase the subsidy component of the existing programmes in the next financial year.
Highly placed sources in the Finance department told The Hans India that the subsidy component provided to the beneficiaries under the self-employment and entrepreneur promotional schemes, offered by the State Minority Welfare Department and SC, ST and BC Development Corporations and various cooperative federations, would be increased in the next financial year.
The proposals have been made to increase subsidies on loans from the present 50 per cent to 60 per cent subsidy to minorities, up to 80 per cent to SCs and STs (from the present 50 per cent) and 60 to 70 per cent subsidies to craftsmen and livestock-rearing are likely to be introduced in the new budget.
Apart from increasing the subsidy amount for the beneficiaries, new schemes for sheep growers, fishermen and handloom weavers are likely to be introduced.
It may be mentioned here that the government had already announced its decision to set up Fisheries Development Corporation. Officials said that the corporation would provide loans to fishermen at higher subsidies.
Similarly, cattle growers (dairy) would be offered financial help in a big way. However, the quantum of subsidy would be finalised at a high-level meeting to be chaired by the chief minister during last week of January. All the departments are already busy holding meetings with the financial institutions to finalise the new schemes.
Apart from the present Rs 30,000-crore subsidy burden, the sources said the government has estimated that the additional burden in 2017-18 budget would be around Rs 5,000 to Rs 7,000 crore on the exchequer.
Of the present Rs 30,000-crore subsidy, Rs 3,000 crore has been provided to the power sector and Rs 2,000 crore for the rice subsidy.
The remaining Rs 25,000 crore subsidy amounts have been earmarked for the implementation of different schemes.
The BC welfare and Agriculture departments alone were providing Rs 10, 000 crore subsidies on the loans, followed by the SC, ST and Minorities departments.
