Congress’ reckless borrowings pushing Telangana into debt trap: Dasoju Sravan

BRS MLC Dasoju Sravan accused CM Revanth Reddy of mortgaging Telangana’s future through reckless borrowings, citing RBI data that the State raised ₹6,000 crore in one day. He said debt had already touched ₹30,669 crore, warning of long-term financial collapse

Hyderabad: BRS MLC Dasoju Sravan lashed out at Chief Minister A Revanth Reddy, accusing the Congress government of pushing Telangana into a debt trap through reckless and unsustainable borrowings. He said the State was being mortgaged to moneylenders, with no new infrastructure projects to show for the mounting debt.

Citing Reserve Bank of India data, Sravan revealed that the government raised Rs 6,000 crore in a single day on September 2 through auction of four State government securities, each worth Rs 1,500 crore, with repayment tenures of 26-38 years at steep interest rates between 7.4 per cent and 7.72 per cent.

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“In just five months, borrowings have touched Rs 30,669.88 crore, exhausting 57 per cent of the Rs 54,000 crore annual target for 2024–25. This is not governance; this is mortgaging Telangana’s future,” he said.

Sravan stated that people were promised Praja Palana, but the Congress was giving financial betrayal. He said ordinary citizens were seeing no tangible improvement in their lives despite the piling debt burden.

Warning of long-term consequences, he said the reckless borrowings would cripple Telangana for generations. “We fought for a self-respecting Telangana. Today, Revanth Reddy is selling it off piece by piece. If this continues, the State will collapse under debt,” he said.