The Telangana government presented a budget of Rs 1,74,453.84 crore in 2018-19 in which special emphasis was given on agriculture. In the budget, the proposal for insurance cover of Rs 8,000 per acre for the agriculture sector and five lakh rupees for the farmers has been proposed under Telangana Farmer Group Insurance Scheme and Investment Support Scheme.
Telangana Farmer Group Insurance Scheme
In this budget, the state government had introduced a new scheme for the farmers of the state named Telangana Farmer Group Insurance Scheme. Under this scheme, the state government will provide an insurance coverage to the farmers of the state.
Under Telangana Farmer Group Insurance Scheme, the Government will provide an insurance facility of 5 Lakh to the farmers.
A budget of Rs 500 crore has been proposed in the budget for the scheme.
Telangana Investment Support Scheme for Farmers
In this budget, the Telangana Government had sanctioned a total amount of Rs 12,000 crore for the Investment Support Scheme to helping the farmers of the state.
Under this scheme, the state government will provide an investment support of Rs 4,000 per acre per crop for two crops to farmers from 2018-19 onwards.
Highlights of Telangana Budget 2018-19
Telangana’s Finance Minister E Rajendra said in his budget speech, “Total expenditure in the year 2018-19 is estimated to be Rs 1,74,453.84 crore. Out of this, revenue expenditure is estimated to be Rs 1,25,454.70 crore and the capital expenditure is estimated to be Rs 33,369.10 crore.
“He said that during the current financial year the state’s revenue receipts could be Rs 73,751 crore. The agriculture sector has been widely allocated in the budget. 12,000 crore investment support schemes have been proposed to help the farmers in the budget. Under the scheme 2018-19, farmers will be given support of Rs 4,000 per acre per acre for two crops.
In the Budget, Rs. 522 crore has been allocated for mechanization of agriculture, whereas budget provision of Rs. 127 crores for small irrigation and Rs. 120 crores for playhouse and greenhouse cultivation has been made. Simultaneously, the amount of Rs. 15,788 crores have been kept for the agriculture and marketing sector.