Telangana CM to conduct interim review of budget in view of pandemic

Hyderabad, Nov 6 (SocialNews.XYZ) Telangana Chief Minister K. Chandrasekhar Rao will conduct a mid-term review of the state's budget for 2020-21 in view of the impact of Covid-19 pandemic on state's finances.

He has called a high-level meeting on Saturday on the financial losses incurred by the state on account of the pandemic. He will also conduct a mid-term review of the 2020-21 budget.

According to Chief Minister's Office, he will discuss at length on the measures to be taken against the backdrop of the Corona pandemic, issues to be revised and other related matters of the budget.

Chief Secretary Somesh Kumar, Principal Secretary, Finance, Ramakrishna Rao, State Planning Board Vice Chairman Vinod Kumar and senior officials from the Finance Department will participate in the review meeting.

On the estimates arrived at Saturday's meeting, the CM may have meeting with the ministers and secretaries of all the departments on Sunday.

KCR, as the Chief Minister is popularly known, had on October 23 directed the officials to have interim review of the state's budget for 2020-21, as there was a major cut in the funds from the Centre following the coronavirus pandemic, while the state's revenue dropped drastically due to the lockdown.

"The Central GDP has fallen to (-) 24 percent. This had a major impact on the states. Under these circumstances, we have to prepare estimates on how much funds are actually available and how much funds can be allocated to the departments should be decided," he had said.

At another meeting on Saturday, KCR will review a meeting on Yadadri Temple construction works. YTDA Special Officer G. Kishen Rao, Yadadri District Collector, officials of Roads and Buildings Department, and the temple's Executive Officer will participate in the meeting.

Source: IANS