Budget has nothing but debts: TSREDCO Chairman

He said that FM Nirmala Sitharaman had admitted that 34 percent of the country's budget was being spent to clear debts and that 20 percent of the country's budget was being spent on paying interest.

Hyderabad: TSREDCO Chairman Y Satish Reddy accused the Narendra Modi government of turning India into a pile of debts.

Responding to the union Budget, Satish Reddy said that Finance Minister Nirmala Sitharaman had admitted that 34 percent of the country’s budget was being spent to clear debts and that 20 percent of the country’s budget was being spent on paying interest.

Till 2014, India’s debt was Rs.55 lakh crore, now it has reached Rs.169 lakh crore, which means that the Narendra Modi government has incurred debts of around Rs 115 lakh crore.