TS financial situation worse than power
HYDERABAD: Stating that the Telangana's financial situation is more worse than the power crisis, MIM floor leader Akbaruddin Owaisi demanded the government to release a white paper on the state's financial position.
Participating in the discussion on the budget on Wednesday, Akbaruddin said budget has become more of a political statement than a financial statement, with both Telangana and AP are setting a trend of having ` 1 lakh crore plus budget, irrespective of their financial position.
Pointing out at no revised estimates provided in the budget to compare, he sought actual figures in the finance minister's reply on the budget. 'The budgetary allocations look ambitious, but the point is that there has been no acceleration in growth in the past six months for various reasons.
The ruling TRS party, which criticised the previous regime's effort to sell the government lands in and around Hyderabad to raise money now wants to follow the same path to raise `6,500 crore,'' he said.
The MIM floor leader found fault with the government for not mentioning about the debt burden the state had inherited post- bifurcation. He said the outstanding debt in the undivided state according to RBI was `1.7 lakh crore and according to Economic Survey it was ` 1.55 lakh crore. If calculated in the ratio 52:48 between AP and Telangana, the new state of Telangana had inherited a debt burden of `74,400 crore if economic survey figures are considered.
Further the new state's share of debt owed to Central government comes to `9,600 crore and both put together, it boils down to `29,000 debt per every individual in the state.
He urged chief minister K Chandrasekhar Rao to exert pressure on the Centre to accord special category status to Telangana state, which can bail it out from the crisis to an extent and assured his party' full backing to the government in that regard.
News Posted: 13 November, 2014
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