The Union Budget which will be tabled in the Parliament on February 1st by Finance Minister, Arun Jaitley will be guiding the annual budget of the Telangana State. The state government is planning to draft its annual Budget after going through the Union Budget.
Usually, the Union Budget used to come only in mid-February but then, the center has broken the ages old practice and advanced it to February 1st. Also, the railway budget will not be tabled separately and will be put up along with the main budget.
The state government is planning to make the allocations to various sectors in accordance with the funds granted by the Centre to various Central-sponsored schemes and state’s share in Central taxes. They believe in that way the central funds will be used effectively.
But then the officials have their own share of confusion. The center has mandates all the states to replace the conventional plan and non-plan expenditure with capital and revenue expenditure from this year. The officials are still not clear about how to do that.
