The K. Chandrashekar Rao led Telangana Rashtra Samithi (TRS) government will introduce a separate budget for agriculture from the next financial year, Governor ESL Narasimhan said on Friday.
Quoting the Governor, news agency PTI reported, the Telangana government will also be providing investment support for the key sector to ensure farmers don’t fall into debt trap.
“Let me, at this moment, share that from the 2018-19 budget onwards, my government proposes to introduce a separate budget for the agriculture sector,” he said in his Republic Day address after unfurling the national flag at Parade Grounds in Hyderabad.
The Government has decided to provide Rs 8,000 per acre per annum to farmers as investment support for agriculture, the Governor said.
The State would allocate funds for the scheme in the budget, Narasimhan said, adding the move is aimed at supporting farmers and preventing them from falling into a debt trap.
Noting that the government is making “all-out” attempts to provide water for irrigation for one crore acres of land, Narasimhan said irrigation projects like Devadula, Bhima and Kalwakurthy are being put on a fast track with a budgetary allocation of Rs 25,000 crore every year. The Governor, in his speech, also spoke about various other welfare schemes.
The government is constructing two-bed room houses for the poor and a target of building 2.65 lakh such dwellings in the first phase by next year is set to be achieved, he said.
The government is spending an estimated Rs 40,000 crore annually to help the poor and needy, he said, referring to the numerous welfare schemes being implemented. The administration had put in place an innovative mechanism to fast track project approvals. The Telangana State -industrial Project Approval and Self-Certification System or TS-iPASS has so far attracted 6,070 industries which have been given clearances, he said.
“Of these, 2,000 have already gone into production. With these new industries, the state has received Rs 118,000 crore investments and created over two lakh jobs,” he said.
Due to the government’s efforts in the manufacturing sector, the state’s Gross State Domestic Product growth rate stood at 13.9 per cent in 2016-17 on current prices as against national average of 11 per cent, the Governor said.