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Govt scouting for ways to fund schemes
With no assurance from the Centre in respect of the demand for special funds, the State government is exploring alternatives for welfare and development programmes during the next financial year 2018-19. Since there is no possibility of reducing expenditure, the government is planning to generate more funds from autonomous bodies, mainly Backward Classes, Scheduled Classes,
Hyderabad: With no assurance from the Centre in respect of the demand for special funds, the State government is exploring alternatives for welfare and development programmes during the next financial year 2018-19. Since there is no possibility of reducing expenditure, the government is planning to generate more funds from autonomous bodies, mainly Backward Classes, Scheduled Classes, Scheduled Tribes and Minority corporations. The Corporations can obtain loans from banks and help implement the schemes.
The expenditure for welfare schemes will go up to Rs 1 lakh crore in the new budget proposals. In 2017-18, it was Rs 88,000 crore, officials said, as the government is planning to introduce several new community based welfare programmes in addition to the existing schemes.
In 2017-18 financial year, the total budget outlay was Rs 1.49 lakh crore which consisted of expenditure of Rs 61,607 crore for payment of salaries, pensions, interest payments and other establishment charges, and Rs 88,000 crore for expenditure on schemes .
To meet the growing financial needs in the next financial year, which is also considered as electioneering year, the government instructed the Corporations to submit reports on the utilisation of the funds in the existing year and the requirement of funds to implement the new schemes in the new financial year.
The option to seek loans from the banks and special grants from other Central financial institutions had been discussed in detail in the recently held meeting between the officials of the Finance and all Welfare Departments.
"As the gap between revenue generation and expenditure increased, officials said that the only option before the government is to seek loans from the banks through corporations." officials said.
On the lines the newly constituted Kaleshwaram Corporation, Telangana Road Development Corporations and MBC (Most Backward Classes) Corporations generated funds to implement the development and welfare schemes, government directed the other corporations functioning under BC, SC, ST and Minority Welfare Departments to prepare proposals to seek financial aid in 2018-19. Officials said that the funds raised through the Corporations will be utilized to implement self-employment schemes and other new schemes.
However, the quantum of funds to be raised through Corporations will be decided only after the presentation of the budget.
