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In accordance with the poll promise of providing financial assistance for poor landowners in the state, the chief minister of Telangana K Chandrashekar Rao finalised the state’s budget allocation for the financial year 2023-24. During elections he had promised to allocate as much as three lac rupees towards providing funds for such landowners to construct their own pakka houses. In its annual budget for 2023–2024, the state government has committed Rs 7,890 crore to implement the scheme.
The budget was announced by the state’s finance minister T Harish Rao last week. The first phase of the scheme is expected to cover up to two thousand beneficiaries from all one hundred and nineteen legislative constituencies. The Chief Minister has also opened twenty-five thousand additional quotas. These will most likely take the shape of a grant to the recipients, who will not have to repay the banks or the government in any way.
The decision to grant this sum by the Chief Minister comes following several requests from ministers, MLAs, MLCs, and other political representatives who claimed there was a high demand for 2-BHK homes and requested him to offer financial assistance so that the plot owners could build their own homes. The decision to offer a grant rather than ready flats came about due to the reluctance beneficiaries showed towards moving into 2-BHK homes that were far from where they routinely went to work. This three lac scheme by the current government comes in addition to the KCR government's 2-BHK initiative for which the state government has allotted Rs 12,000 crore.
Officials have been working hard to ensure that this three-lac financial assistance for housing scheme deadlines do not encounter any obstacles from the central government or the legal system due to the ongoing dispute between the state and central governments over several issues, primarily the devolvement of funds. If the scheme guidelines are in line with the Pradhan Mantri Awas Yojana requirements, the state could possibly apply for central funding to help the cause. The rules for implementing the initiative will be released soon.
Political experts predict there will be a rise in social programmes leading up to the 2023 Assembly elections. The opposition however criticised the BRS (TRS) administration, claiming that KCR had initially promised five lac rupees in financial aid to plot owners and not 3 lac rupees.
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