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Time of India

Cong driving Telangana into crisis with 1.5L cr debt: KTR

1 2 3 4 Hyderabad: BRS working president KT Rama Rao said that the Centre's response in Parliament has confirmed that borrowings by the BRS govt during its tenure amounted to only 3.5 lakh crore, and not 8 lakh crore as claimed by the Congress govt. He said the allegations made by chief minister Revanth Reddy regarding the BRS govt's debt were proven to be "blatant lies" on the floor of Parliament. KTR also added that the CM and other Congress leaders, who spread baseless propaganda to tarnish the BRS govt, would now hide their faces. In a statement issued on Monday, KTR said that as of March 31, 2024, the state's total debt stood at 3,50,520 crore. He asserted that the BRS govt never resorted to unnecessary borrowing; rather, loans were strategically utilised not only for welfare programmes but also for the creation of long-term assets meant to benefit future generations. These funds, he explained, were invested in key infrastructure and developmental projects such as Mission Bhagiratha, Mission Kakatiya, the Palamuru–Rangareddy Lift Irrigation Scheme, the Kaleshwaram Project, and other initiatives. According to KTR, the rapid progress of Telangana was the result of the BRS govt's financial discipline and efficiency under the leadership of K Chandrasekhar Rao. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad KTR said the Centre's report proves BRS govt's intelligent financial management. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Health and comfort: the comfiest slip-on shoes of the year Ultra-Comfortable Shoes Undo "For the fiscal year 2023-24, while Telangana's debt was 3,50,520 crore, the value of the state govt's assets stood at 4,15,099 crore, exceeding the debt by ₹64,579 crore," he said. The BRS leader added that over the past six financial years (2018–19 to 2023–24), the value of state's assets increased by more than 50,000 crore annually, which he cited as evidence of sound governance. Criticising the current administration, KTR alleged that since assuming power in December 2023, the Congress govt has already borrowed more than 1.5 lakh crore through various channels. He added that CM Revanth himself acknowledged this borrowing on the floor of the assembly. The former minister demanded answers from the Congress govt regarding the purpose of these borrowings, noting that not a single new project has been initiated, nor have any promised welfare schemes been implemented. He warned that the Congress govt's "reckless and chaotic" financial management is pushing Telangana towards a serious fiscal crisis. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.