Millennium Post

Telangana passes Finance Bill: KCR stresses on fiscal prudence

The six-month old state received an income of Rs 25,947.97 crore so far this fiscal with the state?s own tax revenue touching Rs 15,101 crore, the Chief Minister announced.

Replying to the debate on the budget in the Assembly, the Chief Minister said the current budget was not full-fledged as there was no clarity yet on the devolution of funds from the Government of India.

"There is a new government at the Centre and it has not yet finalized its policy formulation. There could be changes in many Central schemes like MGNREGS, housing, JNNURM, etc. I will meet the Prime Minister and other Union Ministers soon to discuss these issues and we will present a full-fledged budget for the next financial year much before March 31," the Chief Minister said.

Since Telangana was a new state, it had sought enhancement of borrowing limit under the Fiscal Responsibility and Budget Management Act.

"The Centre has asked us to furnish more details in this regard. We are actively following up on that," he added.

Referring to the tanks improvement programme, entitled Mission Kakatiya, the Chief Minister said 45,000 small and medium village tanks would be improved-restored in the next five years at an estimated cost of Rs 35,000 crore. "The World Bank has come forward to fund this programme but laid out certain terms. I rejected those terms saying ?you cannot govern us?. We will go to Japan International Co-operation Agency for funds,"  Chief Minister said.
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