Bhatti Released White Paper On The Economic Situation Of Telangana

Hyderabad, Dec 20 (Maxim News): Deputy Chief Minister Bhatti Vikramarka released the “white paper” containing 42 pages on the economic situation of the state that has been tabled in the Legislative Assembly today.

While releasing the “white paper” the Deputy Chief Minister said “We have achieved Telangana for the development of all the people.  The previous government did not use the resources properly.  It is a situation of having to get money through OD for daily expenses.  I find it unfortunate that such a situation has arisen.  People should know about the financial mistakes made during the decade.  We will overcome financial challenges responsibly.  “The white paper is the first step in the direction of overcoming the challenges,” said Bhatti.  

Earlier, when the Assembly started, the Assembly announced condolence for the former MLAs, who died recently. Speaker Gaddam prasad Kumar announced the names of Akbaruddin as MIM legislative party leader and K. Sambasiva Rao as CPI legislative party leader.

Former Minister Harish Rao objected, stating that it is not possible to react on a 42 page book immediately, he said that they were not even given time to read the report.  It would have been better if they had given the document the day before. If they are not satisfied with the government’s answer, they have the option of protesting. He revealed that BRS will fully cooperate to run the House smoothly.  After that the Speaker adjourned the meeting for half an hour.  

THE HIGHLIGHT OF THE WHITE PAPER

–  The total debt of the state is gone up to Rs. 6,71,757 crores in the year 2023 till now as against the state debts as of 2014-15 was Rs. 72,658 crores.  Between 2014-15 to 2022-23, the average debts increased per year by 24.5 per cent.  State debt is estimated at Rs. 3,89,673 crores for 2023-24.

– In 2015-16, debt to GSDP was the lowest in the country at 15.7 per cent, the percentage of debt and GSDP increased to 27.8 percent by 2023.  

–  there is a huge gap of 20 percent, between budget estimates and the actual expenditure, the expenditure is much lesser.  Rs. 4.98 lakh crore spent on development of Telangana in 57 years. The debt increased by 10 times after the formation of the state. The debt service burden increased to 34 percent of revenue receipt.  35 percent of the revenue is spent on salaries of employees.  the plight of relying on ways and means every day.

–  Telangana, which was a surplus state in 2014, has brought in debts in 2023 Telangana is in debt after accumulating non-budgetary loans. (Maxim News)

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