Finance Minister Harish Rao is all set to present a Tax-free Budget for the year 2021-22.The Finance department has made budget projections to the extent of around 2 lakh crore it is reported.
The Chief Minister of Telangana K Chandrasekhar Rao has suggested that there should be no fresh taxes and the welfare schemes must have full allocations.
It is going to be one of the biggest Budgets presented so far in the History of Telangana. Taking the revenue collections into account Chief minister K Chandrasekhar Rao has directed the Finance Minister Harish Rao and also the officials to see that there is no dearth for the welfare schemes in the state.
All the welfare schemes should have enough allocations and if possible the Government might start some more new welfare schemes for the poor and the downtrodden in the state.
Agriculture, Irrigation, Health, Education and the two-bedroom housing will have better allocations this time. The situation, however, improved in the last quarter of the financial year as tax collections increased significantly.
As against tax revenues amounting to Rs 1,700 crore in April 2020 and Rs 3,682 crore in May due to the lockdown, the State witnessed revenue collections of about Rs 7,707 crore in December 2020 and around Rs 7,812 crore in January this year.
