Hyderabad: Finance Minister Mallu Bhatti Vikramarka has described the vote-on-account budget as more realistic. He pointed out that in the past 10 years, Telangana’s actual expenditure was only 82.4% of the total budget estimates, which is lower compared to other states like Rajasthan. The government aims to bridge the gap between budget estimates and actual expenditure to around five to eight percent.
During the previous regime, there was a significant increase in the budget outlay, but the actual expenditure did not match the estimates. The previous government’s strategy of underspending on welfare schemes was peculiar to Telangana.
Bhatti emphasized the importance of public awareness and transparency in government spending. He highlighted the example of Satyam Computers to emphasize the need for transparency. Under the current regime, there is a balanced budget and better management of funds for sustainability of welfare initiatives.
Regarding fiscal deficit, Bhatti clarified that the State’s GSDP for the next fiscal year is expected to be higher, making the State eligible for net borrowings.
