Hyderabad, March 21: Revanth Reddy’s government has presented a record-breaking budget of Rs. 3.24 lakh crore, signaling a paradigm shift by prioritizing the “twin horses” of welfare and development. Departing from the traditional notion that welfare programs are reserved solely for the impoverished, the new fiscal plan commits to the health and life security of every citizen in the state through nine groundbreaking initiatives.
Total welfare allocation has been set at Rs. 1,45,591 crore, accounting for a staggering 44.90% of the total budget—a 10% increase over the previous year. A major highlight is the Indiramma Family Life Insurance, which provides ₹5 lakh in accidental life insurance cover for every family in the state, regardless of their income status. This move marks the first time in recent history that a welfare scheme has been applied universally to the entire population.
Furthermore, the government aims to establish comprehensive health profiles for every citizen, accompanied by Digital Health Cards. Specialized health security and accident insurance have also been designated for government employees and retirees, ensuring a safety net for those in public service.
Education remains a cornerstone of the new budget, with Rs. 5,000 crore allocated for the Young India Integrated Schools project. Chief Minister Revanth Reddy, who personally oversees the education portfolio, has emphasized providing international standards of learning. The budget also introduces a new breakfast scheme for students from Pre-Primary to Intermediate levels, alongside the expansion of mid-day meals for junior college students.
To bolster global prospects for the youth, the CM Overseas Employment Program was announced, designed to train young professionals in foreign languages and specialized skills for international job placements. Additionally, students joining the newly established Advanced Training Centers (ATCs) will receive a monthly stipend of Rs. 2,000 to encourage vocational expertise.
Urban infrastructure in the capital is set for a significant transformation. For the first time, the budget includes a formal allocation for Phase 2 of the Hyderabad Metro Rail. Significant funds have also been earmarked for the Musi Riverfront project, aimed at rejuvenating the river and improving the quality of life for Hyderabad residents.
The government’s ambitious spending is backed by a projected revenue increase of approximately ₹43,000 crore. While the state expects growth in tax collection and central grants, new loans totaling Rs. 82,870 crore will be crucial to funding these projects. Despite global economic instability, the state’s GSDP growth rate rose to 10.7%, surpassing the national average and reaching a total value of Rs. 17.82 lakh crore, providing the necessary fiscal room for increased borrowing.
