Harish calls out Congress Budget’s unrealistic projections

Former Finance Minister T Harish Rao delivered a comprehensive critique of the Congress government’s budget for 2024-25, describing it as “unrealistic and filled with contradictions.”
In his detailed speech in the State Assembly, Harish accused the Congress of prioritising political rhetoric over presenting a viable financial plan for Telangana.
He began by highlighting the contradictions in the budget. He noted that while the Congress criticised the BRS government for its performance over the past decade, the same budget acknowledged a significant increase in the state’s per capita income, which rose to Rs 347,229.
“How can the budget claim that the BRS government failed in all areas and then say that the per capita income rose to Rs 347,229?” he asked, emphasizing the budget’s self-contradictory nature.
He criticised the Budget’s revenue projections, particularly the expected grants-in-aid from the Centre. He pointed out that the budget projected Rs 21,636 crore in grants-in-aid for 2024-25, more than double the Rs 9,729 crore received in the previous year.
“With the Centre only marginally increasing grants, it is impractical to expect such a massive increase for TG alone,” he asserted. He also criticised the projected tax revenues, especially the increased estimates for stamps and registrations, excise and sales taxes. He said that the budget projected Rs 18,228 crore from stamps and registrations, a significant increase from Rs 14,295 crore in the previous year.
“In a time of economic slowdown, expecting an additional Rs 4,000 crore from duties is impractical and will place a heavy burden on middle-class families and small businesses,” Harish warned.
He criticised the unrealistic estimates for excise revenue, which was projected to increase by Rs 5,773 crore to Rs 25,617 crore. Harish warned that this increase would lead to higher liquor prices and an undue burden on consumers. He also highlighted the projected increase in taxes on sales and trade, questioning the feasibility of raising Rs. 3,466 crore more than the previous year.
He contrasted these projections with the achievements of the BRS government over the past decade. He highlighted the increase in the State’s GDP from Rs 4.5 lakh crore to Rs 14.5 lakh crore, the rise in agricultural production from 1.07 crore tonnes to 4 crore tonnes, and the enhancement of the state’s electricity generation capacity from 7,778 MW to 19,483 MW.