The Telangana Budget Session begins on the 3rd of February, Friday. The 2023 Budget Session is scheduled to begin with the address of Ms. Tamilisai Soundararajan, the Governor of Telangana.
After a gap of two years, this would be the first Telangana Budget session, which Ms. Tamilisai Soundararajan would address the assembly session. After a rift between the Bharat Rashtra Samithi (BRS) Government and the State Governor, this would be the first time that both the Telangana Government leaders and the State Governor would be attending the first session of the Budget Assembly together.
Moreover, in the 2023-2024 Budget Session, the State Government is expected to have a budget of around Rs. 2.85 lakh crore to Rs. 3 lakh crores. In regard to this, Mr. T. Harish Rao led finance departments already started the Budget preparations a couple of weeks ago and obtained the necessary proposals from all government departments.
It is to be noted, the K. Chandrashekar Rao led BRS Government is planning to release funds and other necessary budget funds for the growth of the Telugu State. Telangana State under the leadership of Mr. K. Chandrashekar Rao recorded 19% to 20% growth in the State owned Tax Revenue (SOTR,) the highest in the country.
The SOTR comprises both tax and non tax revenue, enabling the State to contribute to the nation’s growth. As per estimations of the experts, Telangana lost nearly Rs. 15,000 crore of SOTR due to the Centre’s restrictions in 2022-2023. However, the preliminary estimates indicate that Telangana continues to maintain a higher growth rate in the Gross State Domestic Product (GSDP) at more than 10% at constant prices.
This would be the last Budget of the Telangana Government ahead of the 2023 Assembly elections, scheduled to be held in March-April.
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