Budget has no mention of the assistance to flagship projects taken up by the State
The Union Budget 2022-23 presented by Finance Minister Nirmala Sitaraman has come as disappointment to the State with no mention of allocations to its flagship projects like Kaleshwaram project and Mission Bhagiratha.
There is no mention of allocations to initiatives like proposed industrial corridors or pharma city coming up fast on the city outskirts in the budget presented in the Lok Sabha on Tuesday. Officials of the Finance department said the focus on capital expenditure was good as was the announcement that States together would get ₹ 1 lakh crore as interest free loan.
The Centre had announced an allocation of ₹1 lakh crore to assist the States in catalyzing overall investments in the economy. These 50-year interest free loans were over and above the normal borrowings allowed to the States.
The Finance department officials are, however, unsure of the quantum which Telangana could avail from the ₹ 1 lakh crore announced by the Centre. “No idea. We will have to wait,” was how a senior official reacted when asked about the quantum of funds the State could avail.
They are also doubtful how far the Centre’s decision to allow a fiscal deficit of 4 per cent of the GSDP would be helpful to the State as 0.5 per cent of the enhanced quantum was expressly linked with reforms in the power sector.
