hyderabad sources stated that chief minister chandrasekhar rao-Latest Updates, Photos, Videos are a click away, CLICK NOW'>k chandrasekhar rao said the Union Budget proposals are totally disappointing and the Centre has shown discrimination towards telangana by imposing substantial cuts in funds to be released to the state, and he said the Centres allocations in the budget may have an adverse impact on the development of telangana, "which is a progressive state."
Furthermore Rao said it was 'atrocious' that the Centre had reduced the ratio of the State in central taxes and added that there was a danger of funds scarcity for many welfare and development programmes due to the 'heavy cuts' in the Central funds, an official release quoted him as saying. Rao observed that it was the Constitutional right of every state to have a share in the Central taxes, he said Rs 19,718 crore was due from the Centre to the telangana in the 2019-20 fiscal .
He alleged in the last Budget, the Centre had announced that this amount would be paid to Telangana. But in the revised estimates, it was reduced to Rs 15,987 crore. Moreover as the state anticipated getting Rs 19,718 crore, the reduction led to the states financial planning going awry, he said. The share of states in funds are to be released after collection of taxes and the funds are released according to the proposals declared in the budget. Even though there were occasions when a variation of one per cent or less than that was seen, reducing funds to the tune of a whopping 18.9 per cent in 2019-20 clearly demonstrated the Centres faulty fiscal management.
