Telangana Government Begins Budget Preparations for FY 2024-25

Telangana Government begins Budget Planning for 2024-25 Amid Financial Challenges
Mallu Bhatti Vikramarka - financial year 2024 - Telengana budget - TAXSCAN

The Telangana Government has started working on the budget for the upcoming financial year 2024-25. Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka, who is overseeing this important task, plans to hold meetings with different departments to carefully look at current projects and understand departmental needs. This is the first budget initiative since the Congress Government took office last month.

Starting with a review of the Finance Department last Wednesday, Deputy CM Vikramarka will discuss various departments, including Agriculture, Revenue, Housing, Panchayat Raj & Rural Development, Health, Roads & Buildings, and Irrigation, until January 27. The goal of this thorough review is to get a good understanding of each sector’s current situation and specific requirements.

Chief Minister A. Revanth Reddy has stressed the importance of creating a “realistic budget.” He has instructed officials to avoid making guesses and to be careful with estimations during the budget preparation process.

The Union Finance Minister, Nirmala Sitharaman, is scheduled to present the interim budget on February 1, 2024. This budget serves as a mechanism to seek parliamentary approval for essential government expenditures for a short duration, typically until the new government is formed and a full-fledged budget is presented.

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