Telangana presents tax-free state budget
The Telangana government on Monday presented a tax-free budget for 2016-17, proposing a total expenditure of ₹1.3 lakh crore. The estimates indicate a revenue surplus of ₹3,718.37 crore and a fiscal deficit of 3.5% of the estimated State GDP. The budget allocated funds for contingencies, rural development, infrastructure and for new buildings like a new international convention centre.