Hyderabad: Rebutting the allegations of the Opposition parties over the State government availing exorbitant debts, Chief Minister K Chandrashekhar Rao on Wednesday said all debts including government guarantees to government agencies were availed within the limitation of Broad Fiscal Policy of the Central government.
He reiterated that the State government cannot borrow superceding the restrictions set by FRBM (Fiscal Responsibility and Budget Management). “The Opposition parties are spreading false news. As against Rs 72,000 crore debt at the time of Telangana State formation, we have availed another Rs 70,000 crore debt in the last four years which is far less than our approved debt capacity,” the Chief Minister explained during a discussion on the Motion of Thanks to the Governor’s Speech’ in the Assembly on Wednesday.
Rao exhorted the need for availing debts as part of fiscal management to implement various government schemes including revolving funds availed by different government agencies on a temporary basis. He said States are not allowed to obtain loans and spend them as per their whims and fancies. Due to such fiscal restrictions, the State government could not waive farmers’ loans at one go as the RBI did not permit the same forcing the government to waive loans in four phases. “Anyone promising to waive loans up to Rs 2 lakh at one go, is either bluffing or do not know the fiscal administration,” he said. He further stated that as per records, the Congress government in the undivided Andhra Pradesh made a capital expenditure of about Rs 1.29 lakh crore during its decade-long rule from 2004-14. Though the Telangana’s share on population basis was about Rs 54,000 crore, the AP government spent only around Rs 30,000 crore, in reality, he alleged.
“But after the State formation, the Telangana government made a capital expenditure of Rs 1.24 lakh crore in last four years which is more than 375 per cent than what was spent by the previous government,” the Chief Minister said. Rao also rubbished the allegations of corruption in the government and pointed out that the Central government and the World Bank ranked Telangana number one among all States for Ease of Doing Business after the State cleared permissions for more than 6,000 industrial units within 15 days. He said that even tenders were being invited only to maintain transparency. “Nearly 52 major agencies have won contracts in different projects including those owned by Congress leaders like Komatireddy Venkat Reddy based on their expertise. It is anybody’s guess they (Congress) would not have won contracts if we took bribes,” he opined. He pointed out that the Opposition has failed to prove at least a single corruption charges against the government in last four years.
The Chief Minister reiterated that the government was implementing all schemes in a transparent manner without differentiating between the ruling or the Opposition MLA constituencies. He stated that there was no discrimination in implementing any scheme including Mission Kakatiya, Mission Bhagiratha, roads development, double-bedroom houses and other government programmes which are allotted in a transparent manner. Stating that the government had established 119 BC residential schools in every Assembly constituency, he assured to increase their presence by allowing one each for a manual shortly. He said due to the success of residential schools, even members of economically backward families from upper castes were seeking such institutions for their children.