Telangana eyes top 5 Budget by 2024; Vision document lays out grand dream
The Vision 2024 document will guide the government in its five-year rule after the 2019 elections.
Hyderabad: Telangana state’s annual budget will be among the five largest in the country, according to the Vision 2024 document to be released by Chief Minister K. Chandrasekhar Rao next year.
The Budget will increase by 15 per cent year on year and reach Rs 5 lakh crore by 2024 in order to achieve the CM’s dream of Bangaru Telangana. Mr Rao is supremely confident that the TRS will retain power till then.
The Vision 2024 document will guide the government in its five-year rule after the 2019 elections.
Senior officials of 34 departments are involved in collating information for the document which is likely to be unveiled after Sankranti.
Since the state was formed in June 2014, the government could not present a full-scale budget for 2014-15, as only 10 months were left in that year. The government thus presented its first full budget for 2015-16.
In 2016-17, the budget size was Rs 1.3 lakh crore, which increased to 1.49 lakh crore this year. Taking this into consideration, the government hopes that the budget will increase to Rs 5 lakh crore by 2024.
The CM conveyed his feelings to this effect during a meeting with the Home Guard Pragathi Bhavan on Wednesday. “No state could achieve the growth rate of 17.81 per cent achieved by Telangana this year and this will increase in the coming years,” he said.
The task of drafting the Vision 2024 document has been assigned to the government's chief adviser Rajiv Sharma.
Mr Sharma has been holding meetings with senior officials of all departments in the Secretariat for the past one week and gathering financial details department-wise.
A deadline of December 15 was fixed for all departments to give details. Mr Sharma is expected to submit the draft Vision 2024 to the CM by this month-end.
Size matters
TS Budget
2015-16: Rs 1.15 lakh crore
2016-17: Rs 1.30 lakh crore
2017-18: Rs 149 lakh crore
2024-25 (expected): Rs 5 lakh crore
Top 5 states (Budget 2017-18)
1. Uttar Pradesh: Rs 3.77 lakh crore
2. Maharashtra: Rs 2.21 lakh crore
3. Madhya Pradesh: Rs 1.85 lakh crore
4. Gujarat: Rs 1.72 lakh crore
5. Bihar:Rs 1.60 lakh crore