Congress opposes increase in FRBM limit
Hyderabad, Oct 28 (INN): Congress senior leader and former Speaker KR Suresh Reddy on Wednesday said that the increase in FRMB limit for Telangana would do more harm than good for the State.
Addressing a press conference at Gandhi Bhavan here, Suresh Reddy said that the State was already in debts of nearly Rs. 70,000 crore. He said increase in FRMB limit by another 0.5% would allow the State Government to borrow another Rs. 25,000 crore from various resources. He said this pace of borrowing was not good for the State as the debt burden would consequently affect the common people. He blamed Chief Minister K. Chandrashekar Rao and Finance Minister Etala Rajender for pushing the State into financial crisis. With his wrong policies and poor management, KCR has turned a financially sound Telangana into a debt-ridden State, he said.
Suresh Reddy also alleged that both State and Central Governments have failed to give a concrete assurance to the agriculture sector to prevent further suicides.
News Posted: 28 October, 2015
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