KCR planned to set up a New Budget Calendar

Hyderabad, May 17: The Telangana Chief Minister announced in review meeting at Pragathi Bhavan here on Tuesday, the Telangana State Government is planning to form a new budget system, a regular audit of the department-wise allocations, expenditure.

The decision to seek utilization certificates and plug loopholes in the execution of the works at high prices reported in a few departments.

From the aspect, the State Government has decided to introduce next budget in a new format from the calendar year to the calendar year January 1 to December 31.

Chief minister K Chandrasekhar Rao, during a meeting with top officials of the Finance Department, said that in accordance with the Centre's thought process, the state government has plans to launch the new budget from the next calendar year.



KCR instructed Finance Minister Eatala Rajender, Principal Secretary (Finance) Ramakrishna Rao, and other officials to visit Madhya Pradesh to study where the budget is already being presented in the new format this year.

Cheif Minister KCR also reviewed the performance of the each department in utilizing funds and the steps needed for the effective implementation of the schemes by each wing this financial year.

He instructed the officials to review the performance of departments every month and release funds based on the utilization certificates submitted by them.