Every Telanganite has debt burden of 29000
The debt burden of each Telanganite is Rs 29,000, admitted Chief Minister K. Chandrasekhar Rao in the Assembly. He was responding to MIM floor leader Akbaruddin Owaisi who questioned why the government was hiding facts regarding the state’s finances. He demanded a white paper on the financial condition of the state saying that the information he got from the finance department presented a grave situation. “I came to know that the debt burden of united AP was Rs 1.70 lakh crore, which is to be distributed between AP and TS in the ratio of 52:48.”
However, nothing was mentioned about this in the budget. Mr Owaisi said. The interest burden alone is said to be Rs 10,000 crore on TS. Why is the government hiding this? Why is the government shying away from disclosing the factual position of state finances, Mr Owaisi asked. Mr Rao replied that, A clear picture on debts would come by December end as there are 99 corporations and institutions which are yet to be divided between AP and TS. As of now, the debt burden on each Telanganite is Rs 29,000.
It’s not true that entire debt has to be shared in proportion to ratio of population between two states. Some loans will be transferred based on where those funds were utilised like execution of irrigation projects etc. We don’t want to hide anything on financial position. But at the same time we don’t want to create unnecessary confusion by giving incomplete information.” Mr Owaisi demanded the government to release a white paper on state finances.
Mr Rao said he has no objections to release the white paper but will do it only after the entire bifurcation related works are completed with regard to sharing of finances.”Till now, the money flows from various agencies to TS are still going into the bank accounts of AP government. We are forced to approach the government repeatedly to get our share back as many common instittuions are yet to be divided. This is the situation now. We can release a white paper after entire bifurcation work is completed,” Mr Rao added.