Hyderabad: The Government of Telangana is likely to present ‘Telangana Rising’ budget for 2025-2026 financial year giving a big push to Urban Development, Industry and Infrastructure mainly the Future City in the ensuing budget session beginning from March 12.
Apart from giving priority to Agriculture and Rural development, the Government was planning to make Telangana a strong developed state aiming to generate more revenue to meet the growing financial needs and promote a hub of investments in the country.
“The second budget of the People’s Government will give a new direction to the state economy which is in the doldrums due to mounted debt burden and increased financial requirement to implement six guarantees. The major challenge before the government is to tide over financial crisis arising due to mandated monthly payment of Rs 6,500 crore in the form of interest on the debts and clearing outstanding amount of the loans,” according to official sources. Balancing the expenditure incurred on the welfare schemes and the generation of more revenue is a big task in the new financial year.
The government has already announced the creation of Urban Development Authorities and Master Plans for more than 20 municipalities. The recently held cabinet meeting approved the constitution of a board for Future City which is coming up in 30,000 acres in the Greater Hyderabad surroundings.
All these measures will help asset development and ultimately boost the state economy and generate more revenue. Officials said that the government will take some more measures to invite investments in the services, infrastructure , IT, industry and manufacturing sectors.
Officials made it clear that substantial funds would be allocated for new schemes as the government was mulling to fulfill some more promises made during the elections. The two big promises of monthly allowances to the qualified unemployed youth and Rs 2500 monthly financial assistance to women are likely to be fulfilled in the 2025-2026 financial year. In view of Local Body elections, the government would take a call on the two schemes and make an announcement in the budget outlay. “The total budget outlay will be around Rs 3 lakh crore as against Rs 2.81 lakh crore in 2024-2025 financial year. Despite the government achieving not more than 65 per cent of the revenue target in the current financial year, the government will project more revenue target in the outlay by taking several key decisions which included additional revenue from the new development projects in the urban areas,” officials explained.
