Hyderabad: The State Cabinet approved the budget to be presented by the Deputy Chief Minister Mallu Bhatti Vikramarka at a meeting chaired by the Chief Minister A Revanth Reddy in the Assembly Hall here on Thursday.
Bhatti, who also holds the finance portfolio, will present the budget in the State Assembly at 12 noon. He expected to give more focus on the agriculture sector apart from giving emphasis on infrastructure development initiatives in the State. More funds would be allocated for implementing six guarantees promised by the Congress during the Assembly elections.
Bhatti handed over the copies related to budget to Revanth Reddy after the Cabinet meeting in State Assembly
In February 2024, Bhatti presented a vote-on-account budget for 2024-25 with an outlay of Rs 2,75,891 crore, eschewing the temptation for going with a jumbo Budget and earmarking 153,196 crore for the Congress’ Six Guarantees.
In the vote-on-account budget, Bhatti earmarked Rs 2,01,178 crore for revenue expenditure and Rs 29,669 crore for capital expenditure for asset formation. The revenue surplus was pegged at Rs 4,424 crore and fiscal deficit Rs 53,227 crore. The budget has proposed to borrow Rs 59,625.21 crore through open market borrowings (auction of bonds).
