Bud:Rao asks officials to consider likely impact of recession

Telangana Chief Minister K Chandrasekhar Rao on Monday asked officials to prepare the states budget for 2019-20 by taking into account the likely impact of reported "economic recession" in the country.

Rao, who held a meeting with officials on budget preparation, said a full-fledged budget would be introduced shortly in the Legislative Assembly for the financial year 2019-20, a release from his office said.

A Vote-on-Account Budget was presented last March.

"There is a severe economic recession that is prevailing all over the country. The recession has its affect on all the sectors. Incomes have come down considerably. Revenue of all the states has also come down.

In this backdrop, in the Telangana state, Budget should be planned keeping in view the balance between the revenue and expenditure needs. Budget should be made based on realistic view," he said.

While giving welfare and agriculture top priority, all other sectors should also get necessary allocations, he said.

The Assembly would be convened to pass the Budget and to transact other business, according to the release.