KCR Govt pushing T into debt trap: Cong

Telangana Congress president N Uttam Kumar Reddy on Tuesday accused the K Chandrasekhar Raoled TRS government of pushing the state in. to a deep debt trap.

Analysing the state budget presented on Monday , Uttam Kumar said that the per capita debt burden has doubled after TRS took over the reins in 2014 and blamed mismanagement of economy for the burgeoning debt burden. He said that the per capita debt was Rs 17,626.72 on June 2, 2014 when the TRS came to power, but the new state inherited an overall debt of Rs 61,710 crore.

“With its utter mismanagement and immature approach, the TRS government had accumulated huge debts in a period of just 21months,“ said the TPCC president. He said that the debt burden has gone up to Rs 83,845 crore in 2014-15 and further up to Rs 1,00,707 crore in 2015-16.

“Finance minister Etela Rajender in his budget speech on Monday has proposed to borrow another Rs 23,113 crore. This will increase the per capita debt to Rs 35,373.72 while taking the total borrowings to Rs 1,23,821.49 crore,“ he added. Uttam Kumar said that his party would demand that the government must come up with a white paper on the state finances.

-More at Times of India

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