Hyderabad: Telangana government led by Chief Minister A. Revanth Reddy has successfully reduced the debt burden on the people over the past five months.
Since assuming office in December 2023 until April 13, 2024, the Revanth-led government raised Rs. 17,618 crore through both budgetary and off-budgetary loans while concurrently repaying Rs. 25,911 crore.
However, the government sources clarified that the loans raised by the present administration were not sufficient to cover the principal and interests on the loans raised by the previous government.
They recalled that the BRS government had accumulated Rs. 7 lakh crore in loans, necessitating significant allocations for repayment, which burdened the state exchequer.
Despite these repayments, the Revanth government managed to allocate Rs. 5,816 crore towards capital expenditure. Revanth Reddy government is exercising utmost restraint in taking loans, unlike the previous administration, which raised loans indiscriminately.
During the first four months of its tenure, the Congress government raised Rs. 15,968 crore in loans. In comparison, during the same period in the previous financial years, the loans raised by the BRS government stood at Rs. 19,569 crore in 2022–23 and Rs. 26,995 crore in 2021–22.
While the government proposed to take a loan of Rs. 59,625 crore in the Vote-on-Account Budget for 2024–25, it has only availed Rs. 2,500 crore in the current financial year, according to the sources.
