T'gana presents trimmed Rs 1.46 lakh crore budget for FY 2019-20

Chief Minister K. Chandrashekhar Rao presenting the Rs 1,46,492 crore Budget on Monday said that the economic slowdown has impacted all sectors. He told the House that the severe economic slowdown is leading to serious repercussions in the country as is being witnessed daily.

Hyderabad: Telangana Chief Minister K Chandrasekhar Rao on Monday presented a trimmed Rs 1,46,492.30 crore budget for fiscal 2019-20, saying the state government had to revise the budgetary estimates due to economic slowdown and decline in revenues.

Rao, who presented the budget in the Assembly, said. "...economic slowdown is continuing in the country for the past 18 months. There is a steep fall in the Gross Domestic Product. All major sectors are experiencing a downward trend. Revenues have fallen.

The country's economic situation has a bearing on the state too. The government has decided to formulate the budget based on the change in the scenario and the ground realities, Rao said.

"I regret that I am presenting the State Budget for 2019-20 in the House when both the Centre and State are going through a severe financial crisis. We have to tread carefully and cautiously during such a testing time," he said

"There is a steep fall in the gross domestic product (GDP). All the major sectors are experiencing a downward trend. Revenues have fallen. The country's economic situation has a bearing on the state too.

The government has decided to formulate the budget based on the change in the scenario and the ground realities," the Chief Minister said.

KCR told the House that the severe economic slowdown is leading to serious repercussions in the country as is being witnessed daily.

In his speech, Rao "regretted" that he was presenting the budget when both the Centre and state were going through a severe financial crisis.

The official data put out by the institutions connected with these sectors present a gloomy picture," he added.

According to the 'Overall Budgetary Position 2019-20' as provided in the 'Telangana Budget in Brief 2019-20', revenue receipts was put at Rs 1,13,099.92 crore, public debt Rs 32,900 crore, loan recoveries Rs 44.86 crore, public
account (Net) Rs 500 crore and total receipts Rs 1,46,544.78 crore.

The public debt repayment was put at Rs 9,265.77 crore, loans and advances Rs 8,896.02 crore, and net surplus Rs 52.48 crore.

KCR, however, assured the House that the government is committed to continuing the welfare programmes for the poor people and farmers despite the existing financial crisis.

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