A+ A-Economic slowdown and the resultant slump in revenue has hit Telangana as the state on Monday slashed its Budget for 2019-20 by nearly 20 per cent.
Chief Minister K. Chandrashekar Rao presented a ?1,46,492 crore Budget, down from ?1,82,017 crore in the Vote-on-Account presented in February.
In his Budget speech in state Legislative Assembly, Rao said that the slowdown has impacted all sectors.
“I regret that I am presenting the State Budget for 2019-20 in the House when both the Centre and State are going through a severe financial crisis.
Also Read Slowdown Blues: Auto sector may wipe out a million jobsKCR told the House that the severe economic slowdown is leading to serious repercussions in the country as is being witnessed daily.
Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.
Stay updated with all the Hyderabad Latest News headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.