A day after Telangana Chief Minister K Chandrasekhar Rao inducted six ministers into his Cabinet, the state government will on Monday introduce the Budget for the financial year 2019-20 in the Legislative Assembly.
According to reports, the Budget will be presented by KCR's nephew T Harish Rao, who was newly-sworn in as the state's Finance Minister, while the Chief Minister is expected to present the annual financial statement. The session is expected to start at 11:30 am.
The decision was announced after a Cabinet meeting at Pragathi Bhavan in Hyderabad on Sunday evening, where the Budget estimates were approved.
Media reports stated that estimates were prepared, keeping in mind, an economic slowdown in the country, which would impact the gross state domestic product (GSDP).
After the Budget is presented, the Business Advisory Committee is scheduled to hold a meeting to decide the duration and agenda of the present Legislative session.
Allocation of funds for the new Secretariat and Legislature are expected to come up for discussion, besides the Revenue Act and the Municipal Act. The Opposition parties may raise issues such as shortage of urea and the high number of dengue cases being reported in the state.
In February this year, ahead of the Lok Sabha polls, KCR had presented a Vote-on-Account Budget for 2019-20 that had an estimated expenditure of Rs 1,82,017 crore, an increase of4% over the previous year.
Presenting the interim budget in the Assembly, KCR had said that the GSDP growth rate of the state had doubled since its formation in 2014 and its budget for the new fiscal showed a revenue expenditure of Rs 1,31,629 crore and a capital expenditure of Rs 32,815 crore.
At the time, KCR had said that since the Centre introduced a Vote-on-Account Budget for the next year and as there was no clarity as to what the priorities would be for expenditure, the state government too was presenting an interim budget.