Hyderabad, March 20 (NationPress) The Finance Minister of Telangana, Mallu Bhatti Vikramarka, introduced a remarkable budget amounting to Rs 3.24 lakh crore for the fiscal year 2026-27.

While presenting the third comprehensive budget from the Congress administration in the state Assembly, he outlined a breakdown of revenue and capital expenditures, estimating them at Rs 2.34 lakh crore and Rs 47,267 crore respectively.

“For the financial year 2026-27, I propose an overall expenditure of Rs 3,24,234 crore, which encompasses revenue expenditure of Rs 2,34,406 crore and capital expenditure of Rs 47,267 crore,” he stated.

In the previous year, the finance minister had revealed a budget of Rs 3.04 lakh crore for 2025-26.

During 2025-26, Telangana’s Gross State Domestic Product (GSDP) achieved a growth rate of 10.7 percent, surpassing the national growth rate of 8 percent. The current valuation of Telangana’s GSDP is Rs 17,82,198 crore.

“Telangana’s growth rate is 2.7 percent above the national average. Furthermore, the GSDP of Telangana constitutes 5.0 percent of the national GDP, establishing the state as a significant growth catalyst for the nation,” he remarked.

He pointed out that, despite a downturn in India’s growth rate from 9.8 percent in 2024-25 to 8 percent, Telangana’s GSDP growth increased from 10.6 percent in 2024-25 to 10.7 percent in 2025-26.

In 2025-26, Telangana’s per capita income was Rs 4,18,931, reflecting a growth rate of 10.2 percent. The national per capita income stood at Rs 2,19,575 with a growth rate of just 6.9 percent. Thus, Telangana’s per capita income exceeds the national average by Rs 1,99,356, making it 1.9 times greater than the national figure.

The finance minister disclosed ambitious plans to elevate the state's economy, currently valued at 200 billion US dollars, to a one trillion US dollar economy by 2034 and a three trillion US dollar economy by 2047. To realize this vision, the government is crafting specialized strategies for various sectors.

He asserted that, despite encountering numerous challenges and financial strains, Telangana is advancing robustly on its developmental journey, akin to a phoenix reborn from the ashes. The budget prioritizes sustainable development, focusing on farmer welfare, women’s empowerment, youth employment opportunities, quality education with skill enhancement, health provisions, nutritious meals for students, and infrastructure advancements.

Vikramarka noted that excessive borrowing during the previous administration placed a significant burden on the state’s economy. To rectify this, loans amounting to Rs 25,612 crore, acquired at high-interest rates by the former government, have been restructured to lower rates.

“Moreover, we extended the repayment period, lengthening the principal repayment duration to between 20 and 39 years. This restructuring has decreased the amount payable from Rs 34,058 crore to Rs 11,915 crore from 2025-26 to 2031-32, thus easing the state’s cash outflow by Rs 22,142 crore and providing liquidity relief,” he concluded.