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Subsidy burden set to soar to 35K crore
Finance Minister E Rajendar on Saturday indicated that the subsidy burden on State exchequer in the next financial year could be more than Rs 35,000 crore.
Hyderabad: Finance Minister E Rajendar on Saturday indicated that the subsidy burden on State exchequer in the next financial year could be more than Rs 35,000 crore.
He said the main reason for this is because the government is planning to introduce several highly subsidised community- based developmental programmes like schemes for shepherds, fishermen, washermen, weavers, barbers and other communities like artisans in the budget.
These programmes require fairly big outlay in the budget. In addition to it, the government also proposes to go in for some tourism based schemes like Musi river front and Mid Manair river front projects.
Talking to The Hans India ahead of the presentation of the Budget in the Assembly on Monday, the Minister said the subsidy burden on the State exchequer was around Rs 25,000 crore during 2016-17 financial year and it would increase by Rs 10,000 crore. When asked about the impact of demonetisation, the Minister said that he would answer all such issues in his Budget speech.
He said this time there will be no heads like plan expenditure and non plan expenditure. The new nomenclature this time is scheme expenditure. Earlier, the allocations made for non-plan used to be higher than planned budget. TRS government had brought some financial reforms in 2016-17 and started allocating huge funds under plan now called as scheme expenditure.
The minister said education, health, rural development and agriculture would get more funds compared to previous year to fulfill the promises made by the chief minister K Chandrasekhar Rao. Funds for two-bed room housing scheme and Mission Bhageeratha would be drawn from external agencies.
Allocations for Irrigation sector would also go up as government has already given administrative sanction to all reservoirs being constructed under Kaleswaram project. Substantial allocations would also be made to Mission Kakatiya in the budget.
He said the Chief minister K Chandrashekar Rao had already announced that the government would distribute sheep and goats to the Yadav community to revive their traditional occupation and also strengthen the rural economy.
