Telangana Budget 2019-20: KCR proposes Scheme to Write Off Farm Loans upto ₹1 Lakh

Telangana Chief Minister K Chandrashekhar Rao who also holds Finance portfolio in the state proposed a farm loan waiver scheme on Friday. As proposed, all agriculture term loans up to ₹1 Lakh outstanding as on December 11, 2018, will be waived off. Chief Minister K Chandrasekhar Rao who is popular among his supporters as KCR made the announcement while presenting state Budget in Telangana Assembly on Friday.

KCR while presenting vote-on-budget in the Assembly said, ‘Towards this(farm loan waiver), an amount of ₹6000 crore is proposed’. He added that his party, TRS, has made this promise in a run-up to the Telangana State Polls in November-December last year.

The Budget presented by KCR reflected the major electoral promises made by his party during state elections last year.

Chief Minister K Chandrashekhar Rao speaking in the House on the occasion said, ‘Earlier, Gujarat Model of Development was followed. But, now everyone is talking about Telangana Model of Development and Welfare. Our programme is a role model for the entire country. Most of the states are adopting it and the Central Government has adopted it in form of PM KISAN Yojana.

Apart from proposal to write-off farm loans, Here are some more important welfare schemes the KCR has announced and some of the highlights from in his Budget Speech.

Highlights of Telangana Budget 2019-20 presented by KCR

  • A budget of an estimated ₹1,82,017 crore was presented. While the revenue expenditure is estimated at ₹1,31,629 crore, there is an estimated capital expenditure of ₹32,815 crore. Rao said there was a financial deficit of ₹27,749 crore and revenue surplus of ₹6,564 crore.
  • gross state domestic product (GSDP) during 2013-14 was only 4.2 percent against a 5.9 percent national growth.
  • The state government has also introduced a budget of ₹2 lakh crore of which a major portion will be allocated to the government’s flagship programmes for irrigation, welfare and agriculture sectors. Under this, ₹22,500 crore has been allocated to irrigation and ₹20,170 crore for agriculture.
  • For Differently abled persons, the monthly pensions have bee increased from ₹1500 to ₹3016.
  • The government also promised to provide relief to the unemployed youths in the state and allocated ₹1,810 crores.
  • ₹16,580 crore was allocated for the development members of scheduled caste communities, ₹9,780 crore to scheduled tribes and ₹2,004 crore for minorities.
  • For the implementation of various health schemes and improvement of health infrastructure, ₹5536 crore has been allocated. The monthly stipend will be provided to youths.
  • The government allocated for ₹12,600 crore for Asara Pensions.
  • Two Medical Colleges at Nalgonda and Suryapet will be started from next year.
  • The government will establish 119 residential schools for backward castes from the 2019-20 academic year.

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