Telangana Stares at Debt Crisis, White Paper Tabled in Assembly

Dec 20, 2023, 15:14 IST
- Sakshi Post

Hyderabad: The Congress-led Telangana government on Wednesday brought out a White Paper on the state’s economy during the last 10 years of BRS rule. Deputy Chief Minister and Finance Minister Bhatti Vikramarka Mallu tabled the White Paper on Telangana State finances on the first day of a two-day session of the Assembly today. 

The paper containing the details sourced from various departments including finance, irrigation and revenue indicated that the outstanding debt of Telangana has increased to Rs 3.52 lakh crore by FY2022-23 from Rs 72,658 crore in FY 2014-15. Give the current budget estimates, the debt will touch Rs 3.86 crore lakh by the end of FY 2023-24

The government said during the last 10 years, the total debt of state and Special Purpose Vehicles (SPVs), which were created to mobilize the necessary resources for undertaking these mega capital-intensive, have gone up to Rs 6,71,757 crore from Rs 72,658 crore in FY 2014-15. 

The Deputy chief minister further said the White Paper shows that the Telangana state is staring at a debt crisis due to enormous fiscal stress on the state’s finances in terms of its ability to service the debt. 

Taking part in the discussion on the White Paper on State’s Finances, the former Finance Minister and BRS MLA Harish Rao questioned the team behind the preparation of the paper. Claiming that a retired IAS officer is on the team which prepared the White Paper, Rao said the debt has been compared with the revenue and GSDP while ignoring the state revenue details in the liabilities statement. The BRS legislator alleged that Congress is resorting to spreading misinformation even after coming to power in the state. 

Also Read: Fact Check: Liabilities Grew at 169 Percent In TDP Rule, Only 55 Percent in YSRCP Rule
 


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harish rao
telangana assembly
white paper
GSDP
Telangana revenue
Bhatti Vikramarka Mallu
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