Telangana raised borrowings of ₹ 49,618 cr. since Congress came to power, says Deputy Chief Minister  

Majority of the borrowings went for repayment of principal and interest of borrowings by BRS government, he said  

Deputy Chief Minister Mallu Bhatti Vikramarka who holds the Finance portfolio, has clarified that the State government opted for borrowings to the tune of ₹ 49,618 crore till date since it took over the reins in December last year.

The government repaid principal and interest amount totalling to ₹56,440 crore for the loans obtained by the previous BRS government. The government incurred capital expenditure of ₹21,881 crore and ₹54,346 crore for spree of flagship schemes like crop loan waiver, farmers’ investment subsidy scheme, Cheyutha, LPG subsidy and power subsidy among others. This was in addition to the salaries and pensions to employees which were being paid on time every month.

Mr. Bhatti Vikramarka was responding to the charge of BRS working president K.T. Rama Rao that the Congress government, which opposed the borrowings by the BRS regime, raised loans to the tune of ₹80,500 crore in just 10 months of coming to power. He wondered as to where the money had gone at a time when the Congress government failed to implement its spree of promises as well as not taking up any major irrigation project.

“Where has the money gone? The government has not implemented loan waiver, Rythu Bandhu and other schemes,” Mr. Rama Rao tweeted.

Published - October 16, 2024 07:01 pm IST