Telangana’s 2021 budget was born out of hope more than math – the New Indian Express

Express news service

HYDERABAD: In short, Finance Minister T Harish Rao’s budget for 2021-22 was born out of hope rather than conviction. Better days are likely as the Covid-19 pandemic recedes and the possibility of cash registers ringing to meet the ever-increasing expectations of people – mainly farmers, disadvantaged sections and those looking for two-bedroom homes. – increases because it is the government’s commitment to them.

Hope made Harish Rao bolder as he presented his second but fairly ambitious budget to the assembly on Thursday, bringing his size to over Rs 2 lakh crore for the first time after the state was formed. The main lessons of the budget are development and well-being. But, on closer inspection, one wonders how the government could achieve the estimated revenues since they mainly depend on central subsidies, of which it itself is non-binding. The aid grant in the 2020-21 budget is Rs 10,525 crore, but the state government expects it to be around Rs 38,669.46 crore in the 2021-22 budget, a leap forward.

“As the central government has to share 70,000 crore in GST with the states, we are waiting for our share of the pie. In addition, the state expects to obtain shares of IGST, funds under the Jala Jeevan mission and other programs, ”sources from the Ministry of Finance said.

In addition, the state government also plans to increase its income, for which it can increase the market value of land and stamp duty. The third main source of income would be loans over Rs 45,000 crore. In fact, the size of the 2020-21 budget has increased from Rs 1.82 lakh crore to Rs 1.5 lakh crore in revised estimates due to Covid-19 playing spoiler. Despite this, Harish Rao presented a budget of Rs 2 30,825.96 crore for 2021-2022. Confident in the state’s fiscal strength, the minister announced several new education programs to provide basic amenities in public schools and more this time around.

If for some reason the estimated revenues are not realized and the Center does not release the funds as planned, welfare programs will be in a boil. The proposed new plans could take a back seat in such an event.

Broken promises
As Harish Rao could not keep the assurances given in his first budget, he said they would be implemented this time around. Unfulfilled insurances include 2BHK and waiver of agricultural loan

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