Investment in infrastructure not debt: KTR
Hyderabad: “Infrastructure is crucial for a city. Any investment and any single rupee that is invested to create additional infrastructure for a city has to be looked at as an investment into the future and cannot looked at as debt,” MAUD Minister KT Rama Rao said on Monday. Responding to a question by MIM floor […]
Hyderabad: “Infrastructure is crucial for a city. Any investment and any single rupee that is invested to create additional infrastructure for a city has to be looked at as an investment into the future and cannot looked at as debt,” MAUD Minister KT Rama Rao said on Monday.
Responding to a question by MIM floor leader Akbaruddin Owaisi in the State Assembly here, the Minister, referring to earlier statements of Congress members that Telangana had gone into a debt-trap, said every rupee invested on productive sectors or incurred as capital expenditure created a new asset that improves productivity of the State and the country. “It should be seen as a future investment and not be looked at as debt,” he said.
He said Rs 5,900 crore term loan was taken from the State Bank of India and for this, the annual debts service currently was Rs 296 crore with the guarantee of the State government. “We need not worry about the financial health of the GHMC,” the Minister said clarifying that economic activity happens if a link road, a flyover or an underpass was constructed.
“When we invest, revenue will also increase and additional infrastructure is also created and value creation happens,” he added.
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