Hyderabad: Telangana MP Chamala Kiran Kumar Reddy urged the Centre to ensure the transfer of Rs 1,270 crore from Andhra Pradesh to Telangana.
In the Lok Sabha, he stated that the funds need to be transferred in the interest of Telangana’s financial stability and development.
The MP explained that during the bifurcation of Andhra Pradesh in 2014, the total outstanding amount of Andhra Pradesh Power Finance Corporation was Rs 5,894.60 crore.
As per the agreed ratio, 59.54 per cent of the liability was to be borne by Andhra Pradesh, while 40.46 per cent was to be assigned to Telangana.
However, he said that Andhra Pradesh imposed an additional burden of Rs 1,052.70 crore on Telangana Power Finance Corporation.
Despite raising objections, Telangana Power Finance Corporation paid a total of Rs 1,270 crore till August 2024.
This amount included Rs 481.82 crore as the principal and Rs 788.18 crore as interest.
The Telangana government has approached the Centre to recover the amount. Proposals related to the issue have already been sent to the concerned ministry, but they are still pending.
The MP requested the Union Finance Minister, through the Speaker, to take immediate action and ensure that Rs 1,270 crore is transferred from Andhra Pradesh Power Finance Corporation to the Telangana government.
