The state said there was a shortfall of about Rs 52,000 crore for the budget estimates of the 2019-20. The government had presented budget of Rs 1.82 lakh crore, but has not been able to generate income, partly because of recommendations of the 15th Finance Commission and also reduction in transfer of state’s share of funds from the Centre.
The only respite for the state in terms of own income seems to be excise revenue thanks to increase in the prices despite no sale during the lockdown. Due to temporary freeze, the income from registration has touched around Rs 3,500 crore whereas budget expectation was around Rs 10,000 crore.
Excise income has reached the expected level, the budget expectation was about Rs 16,000 crore. It has already crossed Rs 10,000 crore. Ever since the formation of Telangana, there has been consistent increase in excise income . For the financial year 2018- 19, the state had earned Rs 1,000 crore more than expected revenue.
“There will not be any cut in welfare schemes as they were promised to people, but we can certainly wait on building infrastructure till finances improve. The expenditure on infrastructure like expansion and building of roads, projects like irrigation are covered under the capital expenditure,” a top source told TOI. They might be under zero budget category with no allocation.
Sources say there was a possibility of increasing the number of bars in the state and increase in prices to make up for losses. The land registration prices might also go up in the mean time.