Telangana State sticks to FRBM targets

Telangana State sticks to FRBM targets
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Telangana government is maintaining fiscal discipline by sticking to Fiscal Responsibility and Budget Management (FRBM) targets set by the central government. 

Hyderabad: Telangana government is maintaining fiscal discipline by sticking to Fiscal Responsibility and Budget Management (FRBM) targets set by the central government. The accounts for the ten months of 2014-15 as certified by the Accountant General showed a revenue surplus of Rs 368.66 crore and a fiscal deficit of Rs 9410.48 crore, which is 1.8 per cent of the GSDP and within the FRBM limit “The Revised Estimates for 2015-16 indicate an expenditure of Rs 1,00,062 crore, which is nearly 86 percent of the Budget Estimates.

The expenditure shortfall is due to lower plan transfers from the Centre and lower-than-expected proceeds from the sale of land because of litigations in courts,” Finance Minister Eatala Rajender said in his budget speech. As per revised estimates for 2015-16, the revenue surplus is likely to be Rs 60.54 crore and the fiscal deficit is likely to be Rs 912 crore which is the same as budgeted.

According to Budget Estimates, the government has proposed a total expenditure of Rs 1,30,415.87 crore for the fiscal 2016-17. This includes a non-plan expenditure is Rs 62,785.14 crore and plan expenditure is Rs 67,630.73 crore.

“With the adoption of 2011-12 as the base year for the estimation of GSDP as was done by the Centre last year, the borrowings under the FRBM legislation are likely to be a little higher in 2016-17,” the Minister said. During 2016-17, Telangana will have a revenue surplus of Rs 3,718.37 crore and a fiscal deficit of Rs 23,467.29 crore, which is 3.5 per cent of the GSDP.

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