Hyderabad: AIMIM MLA Akbaruddin Owaisi raised questions on the ‘discrepancies’ in the white paper released by the Congress-led state government citing an outstanding debt of Rs 6,71,757 crore on Telangana.
“Whatever be the reasons or the motive behind the release of white paper on the state finances…I would request those on the treasury benches not to give out a message that Telangana has become bankrupt and a debt-ridden state with no finances left to carry out day-to-day activities,” he remarked.
He further said that “it wasn’t acceptable to send mixed signals to industries interested in investing in the state.”
Akbaruddin further alleged that the state government has used figures selectively from different sources like reports of the CAG and the RBI to support its narrative.
The MLA blamed bureaucrats for the “bungling” figures in the document.
Telangana witnessed progress: Akbaruddin
He said that even though Telangana has incurred debt in the last 9 years, “the state also witnessed progress and development in all fields, besides providing welfare to all sections of society.”
He further stated that the Centre’s debt went up in the last 10 years just like the debt of Telangana.
“…..The Central government’s debt has increased by 244.69 percent in these ten years,” he added.
Figures have to be accurate: Akbaruddin
The Chandrayangutta MLA further the figures mentioned in the white paper are inaccurate. “It is so unfortunate. I have gone through every page,” he added.
White paper on Telangana’s debt
Telangana will have an outstanding debt of Rs 6,71,757 crore, including non-guaranteed loans of corporations or institutions by the end of FY 24 against Rs 72,658 crore in 2014-15, the state government said.
Telangana State Finances-White Paper was tabled by the government in the Legislative Assembly and there was a short discussion on it.
The debt servicing burden of monies which are borrowed on the budget and off-budget has increased enormously and is consuming 34 per cent of the state’s revenue receipts while the salaries and pensions of employees consume another 35 per cent of the state revenue receipts, a government document said on Wednesday.
“The total debt on the books of the State, guaranteed and serviced by the State, guaranteed but not serviced by the State, and not guaranteed and serviced by the institutions is Rs 6,71,757 crore,” it said.
Further, as per budget estimates for FY 2023-24, the debt under FRBM (Fiscal Responsibility and Budget Management Act, 2003) is estimated to increase to Rs. 3,89,673 crore.
In Telangana, there is a gap of almost 20 per cent between the budgeted and the actual expenditure. This figure is not only high when compared to other states, but also in comparison to the expenditure achieved in united Andhra Pradesh, the document said.
The new government is determined to implement all the six guarantees which are promised by the party based on which the people of Telangana had given the mandate for change, it said.
Terming the White paper as “full of mistakes,” BRS member and former Finance minister T Harish Rao said it aimed at blaming the previous government.
He further said the previous government had invested a lot of money in asset creation.
The BRS leader listed out the previous government’s achievements amid objections from the treasury benches.
Objecting to Harish Rao’s comments, Chief Minister Revanth Reddy said whatever Rao said was factually incorrect.
He said the previous government had raised loans by projecting that there would be revenue generation from the Kaleshwaram Project and Mission Bhagiratha, drinking water scheme.
Replying to the debate Revanth Reddy said the government wanted to keep the facts before the people and hence tabled the White Paper.
He said some figures in the document were taken from the Comptroller and Auditor General reports while some were from the Reserve Bank of India.
According to him, the financial situation in the previous BRS rule had become dire and the aim of the White Paper was not to insult anyone.
He further said the Congress government will seek AIMIM’s suggestions to make Hyderabad the best city in the country.
Reddy said he spoke to Union Minister G Kishan Reddy seeking an appointment with Prime Minister Narendra Modi.
Minister Uttam Kumar Reddy said the Civil Supplies Corporation plunged into a loss of Rs 11,000 crore with Rs 56,000 crore debt.
He further said the sinking of the Medigadda barrage of Kaleshwaram Project was “criminal negligence”and “poorly designed and poorly built.”
“There will be an inquiry on the issue and the guilty will be punished,” he said.
During the debate on the White Paper, in an indirect reference to Revanth Reddy, Harish Rao made some comments which were expunged by Speaker Prasad Kumar.
Legislative Affairs Minister D Sridhar Babu and Speaker Prasad Kumar asked the BRS leader to withdraw his comments.
“It is not fair to comment on the Leader of the House,” Prasad Kumar said.
Replying to the request, the BRS leader said he did not take the CM’s name and the ruling party members also made comments against the opposition.
BJP MLA Maheshwar Reddy sought to know how the Congress government will fulfill its poll guarantees while noting that the state’s finances are in the doldrums.
