The initial official estimates for funding the implementation of the Congress’s Six Guarantees stand at around Rs. 70,000 crore.
Published Date – 10:04 PM, Sun – 10 December 23
Hyderabad: Initial official estimations of the financial requirement for implementation of the Six Guarantees of the Congress have pegged the figure at approximately Rs.70,000 crore. With modalities of the schemes and final nuances yet to be worked, the figure could go up or have slight modifications.
While Finance department officials are busy drafting a white paper on the State’s fiscal condition following directions from the State Cabinet recently, initial estimations have pegged the annual expenditure for implementing the six guarantees would be around Rs.70,000 crore. Two of these six guarantees have been already launched with the State government keen to fulfill its guarantees within the 100 days as promised in the Congress manifesto.
One of the key assurances is the Maha Lakshmi scheme, which promises significant benefits for women, including a monthly allowance of Rs.2,500, a subsidised gas cylinder at Rs.500 and free travel in TSRTC buses across the State. While the eligibility criteria for beneficiaries and the number of women to be covered are yet to be finalised, initial estimates put the annual cost of this scheme at around Rs.18,000 crore, including Rs.2,500 crore for the TSRTC free travel facility and another Rs.6,000 crore to provide subsidised LPG cylinders to around 1.2 crore LPG consumers.
The Rythu Bharosa initiative pledges Rs.15,000 per acre per annum to farmers and tenant farmers, Rs.12,000 to agricultural labourers and a bonus of Rs.500 per quintal for paddy. While the State government is expected to disburse the second installment of funds under Rythu Bandhu, the financial implications of meeting the commitments under Rythu Bharosa is estimated to be around Rs.30,000 crore. This includes an estimated expenditure of Rs.19,000 crore towards financial assistance to farmers, tenant farmers and farm labourers.
Other guarantees, including house site allocation for homeless families, financial aid for construction, and electricity subsidies through Gruha Jyoti, add further layers to the fiscal requirements. Additionally, educational initiatives like the Rs.5 lakh Vidya Bharosa financial assistance card under Yuva Vikasam and the establishment of international schools in every mandal contribute to the formidable budgetary requirements.
The comprehensive social welfare programme, Cheyutha, encompasses a wide range of beneficiaries where a monthly pension of Rs.4,000 will be provided to senior citizens, widows, disabled, beedi workers, single women, today tappers, weavers, AIDS and filaria patients and kidney patients undergoing dialysis. Currently, there are around 40 lakh beneficiaries receiving pensions ranging from Rs.2,016 to Rs.4,016. Further, it is also coupled with a substantial Rs.10 lakh health insurance under the Rajiv Arogyashri health insurance.
While the eligibility criteria is yet to be finalised for these schemes, balancing these ambitious promises with financial prudence will be a key challenge for the newly formed government in delivering on its electoral commitments.
