Telangana's Debts Are Still Remained Under FRBM limit: CM KCR

Telangana’s Debts Are Still Remained Under FRBM limit: CM KCR

Hyderabad, Aug.15 (Hydnow): Chief Minister K Chandrasekhar Rao said that Telangana was not among the top States in the country in terms of highest debts and its borrowings were still remained under the Fiscal Responsibility and Budget Management (FRBM) limit.

Addressing the people after hoisting the national flag marking the 75th Indian independence celebrations at Golconda Fort on Monday, the Chief Minister said the Telangana was inherited a debt of Rs.75,577 crores from the undivided Andhra Pradesh after the State formation in 2014. Thus, the State government’s debt was Rs 1,49,873 crore.

The amounts raised through loans were utilised for construction of irrigation projects, strengthening infrastructure and other capital works. Debts have not been used for other purposes. Moreover, Telangana stands at 23rd position among 28 States in terms of debt-GSDP ratio, the Chief Minister said.

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“Telangana’s debt-GSDP ratio was 23.5 per cent and it is under the FRBM limits. However, the nation’s debt-GDP ratio stands at 50.5 per cent. But some people are aimed at indulging in the mudslinging campaign against the State government over the debts,” KCR said.

Exposing Prime Minister Narendra Modi government’s lopsided policies against Telangana, the Chief Minister found fault with the Centre for denying a fair share of 41 per cent of taxes collected by the Centre to the States.

“The States are now getting only 29.6 percent of revenue against its fairshare of 41 per cent. The Centre is denying to give the remaining 11.4 percent of revenue to the States in the name of Cess and other taxes. Further, various restrictions are being arbitrarily imposed on the economic freedom of the States. The Centre is also imposing cuts on the loans taken by the States under the FRBM limit,” KCR pointed out.

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The Chief Minister also lambasted the union government for making mockery of the Constitution by taking unilateral decisions on subjects in the concurrent list without consulting the States.

Expressing concern over the Centre levying taxes indiscriminately from milk to crematorium services and putting burden on the poor and middle class people, KCR alleged that the Narendra Modi government was failing to fulfil its responsibilities and moreover, it was insulting the welfare schemes for the poor by painting them as freebies.

The Chief Minister said the Telangana was making progressive strides and the State government was giving importance to all sections of the society for inclusive growth.

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He stated that the Telangana State attracted about the investment of Rs.2.32,111 crores during the last eight years and it had provided employment to about 16.50 lakh people.

On Information and Technology (IT) front, the Telangana government has created over 1.55 lakh new jobs during the last one year and it has surpassed Karnataka, the Chief Minister said.

He said the Telangana IT exports worth was Rs 57,258 crores in 2014 and by the year of 2021 the worth of exports had gone up to Rs.1,83,569 crores, registering unprecedented 26.14 percent growth rate against the national growth rate of 17.20 percent.

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Stating that the TRS government is taking eloborate steps to improve basic amenities and infrastructure in all government hospitals, the Chief Minister also informed that all 56,000 beds in government hospitals have been upgraded as oxygen beds and efforts are being made to set up one medical college and a nursing college in each district across the Telangana in next two years. (Hydnow)


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