Telangana Finance Minister T Harish Rao on Sunday presented the state budget for the financial year 2020-21 in the Assembly.
Addressing the House he said, "This budget has been approved against the backdrop of the overall economic slowdown that has gripped the Indian economy. The economy is facing a slowdown for the past one and half years. As a result, there is a reduction in tax devolution and other transfers to the State by the Centre, and a decline in the growth of state revenues."
"Following the economic slowdown, the growth of the state's revenues in 2019-20 (till the end of February) is estimated to be at 6.3% much below the growth rate of 16.1% achieved in 2018-19. Agriculture and allied sectors have recorded impressive growth in 2019 - 20 while the crop sector is estimated to grow at 23.7%," said the Minister while presenting his maiden budget.
He further informed that the per capita income of the State of Telangana was greater than the per capita income of our country. Per capita income for 2019-20 for Telangana is estimated at Rs.2, 28,216/- whereas the per capita income of our country is Rs.1,35,050/.
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