Hyderabad, Mar 16 (KNN) The Telangana Budget presented on Thursday by State Finance Minister E Rajender was a tax free and revenue surplus budget. Chief Minister K Chandrashekhar Rau lauded the budget and called it balanced with all segments being duly taken care of.

While there was not much mention about the micro, small and medium enterprises (MSMEs) sector in the budget, the budget focused on agriculture, irrigation, handloom, powerloom etc.

In this budget an amount of Rs. 1,286 crore is proposed for Industries and Commerce Department in this Budget and an amount of Rs. 289 crore is proposed for IT development. 

For Handloom and Textiles,   an amount of Rs. 1,200 crore is proposed in the Budget 2018-19.

The major focus was on agriculture with the government unveiling a Rs 8,000 per acre investment support scheme and a Rs 5 lakh insurance cover for farmers.

While the agriculture and marketing sector got an allocation of Rs 15,788 crore, irrigation was given Rs 25,000 crore and the power sector Rs 5,650 crore — all the three sectors have been linked to give a boost to the agriculture sector and enhance the incomes of farmers that accounts for Rs 46,438 crore.

Giving top priority for welfare of SC/ STs, the Budget has allocated Rs 16,453 crore for the Scheduled Caste Special Development Fund (SDF), Rs 9,693 crore for the Scheduled Tribe SDF, Rs 5,920 crore for the Backward Classes welfare, Rs 2,000 crore for minority welfare, Rs 1,799 crore for Women and Child Welfare and Rs 2,643 crore for the government’s flagship programme of Double Bed Room houses.

The government has allocated Rs 10,830 crore for school education, Rs 2,448 crore for higher education, Rs 2,823 crore towards residential schools. For the medical and health sector, Rs 7,375 crore has been allocated.

On subsidy for modernization of powerloom sector, the finance minister said, “Government has decided to provide full-scale subsidy for modernisation of power looms.  Government is committed to reviving the ailing power loom industry.  The funds required for the modernisation of power looms are being provided from the allocations made in the Budget for handloom sector. It was decided to provide relief in saturation mode to all the workers without any limits.”

On initiatives for industrial development, he said, “The TS i-PASS legislation brought by the Government for the industrial development of the State is yielding good results.”

Large scale investments are pouring into the State. Permissions have been granted to 6206 industries so far.  Besides attracting huge investments of about Rs. 1.18 lakh crore, employment opportunities have been created to about 4.47 lakh people. Out of the units permitted, 3703 units have already commenced operations.  Telangana is ranked no.1 in the country in ease of doing business, the finance minister said.

He further said arrangements are also being made for establishing eco pharma city  with world class infrastructure in an area of 19,331 acres at Muchharla in Ranga Reddy district  which would create 4 lakh jobs.  Land has been allotted for establishing mega food park at Buggapadu in Khammam district.  

To promote, enthusiastic SC, ST entrepreneurs, the Government is implementing a new programme called Telangana State  Programme  for  Rapid  Incubation of Dalit Entrepreneurs (T - PRIDE) under which incentives are being provided to those who set up new industries and also for expanding the existing industries.

Interest subvention enabling interest payment at 4 per cent per annum for the loans taken to establish small scale industries and food processing units is being provided.  Under the investment scheme,  35 per cent of total investment as subsidy is being provided to SCs, STs for establishing industrial units and for SC, ST women entrepreneurs the subsidy is 45 per cent.

“The Government has decided to impart necessary training to SC, ST engineering graduates and to entrust them contracts of Government development activities,” said the finance minister in his budget speech. (KNN Bureau)