Hyderabad: The TRS government is leading Telangana towards mounting debts by relying heavily on borrowings for implementation of some of its major schemes, opposition BJP and TDP alleged in the Legislative Assembly on Friday.
The state had Rs 83,000 crore of debts when it was formed (in 2014) and another Rs 50,000 crore debt is now added with the government seeking to borrow funds for the implementation of its programmes like double-bed room houses for poor and ‘Mission Bhagiratha’, BJP floor leader K Laxman said during debate on state budget for 2016-17.
Referring to the recent comments of Chief Minister K Chandrasekhar Rao that even developed nations like the United States borrow money, Laxman said he was not suggesting that borrowings per se are wrong. But the borrowings should not exceed limits, he said.
The proposal to set up a Special Development Fund (SDF) with Rs 4675 crores to meet unanticipated requirements and contingencies is unconstitutional, he claimed.
TDP floor leader A Revanth Reddy maintained that the farmers’ loan waiver scheme can be fulfilled at one go if the funds meant for SDF are allocated for the remaining installments of loan waiver. Out of the four installments, two have been completed so far.
The irrigation projects nearing completion should be completed on a priority basis, he said. He claimed that more borrowings have been made since TRS assumed power than in undivided AP.
Noting that the opposition member should not mislead the House, state Finance Minister E Rajender asked whether he was suggesting that the double bed room houses for poor should not be taken up. The government would reply to the debate in detail, he said.
Observing that grave injustice was done to Telangana in undivided AP, ruling TRS member Srinivas Goud said it is being corrected now.