Slowdown hits Telangana, Budget slashed by 20%

  • | Wednesday | 11th September, 2019

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.

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