Hyderabad: In a significant move, the Telangana Cabinet has greenlit the vote-on-account Budget for the fiscal year 2024-25. Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka will present the budget in the Assembly later today, marking a pivotal moment for the state’s financial planning.
The approval came during a Cabinet meeting chaired by Chief Minister A. Revanth Reddy on Saturday morning, signaling a collective endorsement of the proposed financial roadmap.
In a parallel development, Industries Minister D. Sridhar Babu is set to unveil the Budget in the Legislative Council, further emphasizing the government’s commitment to transparent governance and fiscal responsibility.
Notably, this marks the inaugural Budget presentation by the Congress government since assuming power just two months ago, underscoring the administration’s proactive stance towards economic management.
While a comprehensive Budget for 2024-25 will be crafted post the Lok Sabha elections, the interim Budget is poised to address critical financial priorities and lay the groundwork for future fiscal policies.
Finance Minister Bhatti Vikramarka reaffirmed the government’s dedication to fulfilling all promises made during the electoral campaign, ensuring that pledges on various fronts, including revenue, debt management, and utilization of central funds, will be honored.
In a fiscal comparison, last year’s Budget under the previous government stood at Rs. 2.90 lakh crore. However, expectations suggest that this year’s budgetary allocation could exceed Rs. 3 lakh crore, indicative of the state’s evolving economic landscape and developmental aspirations.
Of particular interest, the Congress government is poised to allocate resources towards realizing four out of six electoral guarantees, demonstrating a commitment to translating campaign promises into tangible actions for the welfare of the populace.