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Telangana authorities takes mortgage yearly, it’ll land state into debt, says CLP chief | India Information

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Telangana authorities takes mortgage yearly, it’ll land state into debt, says CLP chief | India Information

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Hyderabad: Telangana Congress Legislative Occasion (CLP) Chief Batti Vikramarka on Thursday (March 18) stated that the state authorities is taking round Rs 50,000 crores as loans yearly and claimed that Telangana could land right into a “debt lure” if this continues. 

“In 70 years within the mixed Andhra Pradesh, the full mortgage quantity was Rs 70,000 crores. However this Telangana Authorities, however, is taking round Rs 50,000 crores as loans yearly. The state is already in Rs 3,50,000 crores debt and if this continues, then by 2023-2024 Telangana State can be in debt of Rs 5,50,000 crores,” Vikramarka informed ANI.

“That is going so as to add on a extreme burden on the folks of Telangana. If the state authorities takes loans over and once more, the state will find yourself touchdown right into a debt lure,” he added.

Slamming the state authorities over the funds, the Congress chief stated there may be nothing for the frequent folks within the funds.

“There was no allotment of cash for the ‘KG to PG’ scheme of the state authorities. Telangana Chief Minister Okay Chandrashekhar Rao, on one hand, stated that the state authorities does not have any cash resulting from COVID-19 when requested in regards to the unemployment allowance scheme.

However however, his finance minister has offered a state funds of Rs 2,30,825.96 crores,” Vikramarka stated.

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