RBI report exposes Congress propaganda, says Harish Rao

Citing RBI's latest report "Handbook of Statistics on Indian States 2023-24," Harish said the data exposed Congress’s lies and validated the transformative progress achieved during KCR's decade-long governance

Hyderabad: Former Minister and senior BRS MLA T Harish Rao on Thursday rebuked the Congress government for spreading misinformation about the State’s financial health and development under the BRS regime. Citing the Reserve Bank of India’s (RBI) latest report “Handbook of Statistics on Indian States 2023-24,” he said the data exposed the Congress’s lies and validated the transformative progress achieved during K Chandrashekhar Rao‘s decade-long governance.

Addressing a press conference at his Siddipet camp office, Harish Rao asserted that the Congress government, led by Chief Minister A Revanth Reddy, was built on “foundations of lies” and had engaged in a relentless campaign of false propaganda against BRS. “Even if it takes time, truth will always prevail, notwithstanding attempts to hide it. The RBI’s findings have laid bare the Congress’s baseless claims of Telangana’s bankruptcy under BRS regime,” he said.

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The Congress government had accused the BRS regime of burdening Telangana with unsustainable debt, alleging liabilities of Rs 7 lakh crore. However, the former Finance Minister countered this narrative with RBI statistics, pointing out that total liabilities incurred by the BRS government in ten years amount to only Rs 3.22 lakh crore. He also criticised Congress for burdening the state with Rs.1.06 lakh crore in debt during its tenure.

Harish Rao stated that Telangana inherited outstanding liabilities of Rs 72,658 crore and Rs 18,265.2 crores as outstanding guarantees from previous governments of erstwhile Andhra Pradesh as on June 2, 2014, which amounts to total Rs 90,923.20 crore. Further, the current Congress government raised Rs 15,118 crore from December 7 of 2023 to March 31 this year through market borrowings.

“The current outstanding liabilities of the State is Rs 3,89, 673 crore and outstanding guarantees is Rs 38,867.4 crore, resulting in a total outstanding amount of Rs 4,28,540.4 crore. After deducting the liabilities inherited from erstwhile Andhra Pradesh and also the debts obtained by the current Congress regime, the total outstanding liabilities and guarantees during the BRS regime amount to Rs 3,22,499.20 crore,” he explained. He reminded that this amount also included loans obtained under the Central government schemes like UDAY which were forced on the State.

“The Congress twisted facts to malign us, portraying Telangana as a debt-ridden State. The RBI report has shattered these falsehoods,” the senior BRS leader said, warning Congress leaders against their toxic propaganda.

Harish Rao stated that while the Congress leaders speak about debts obtained during the BRS rule, they never utter a word about the socio-economic progress achieved.

The RBI report revealed that Telangana’s Gross State Domestic Product (GSDP) increased by 249 per cent between 2014-15 and 2023-24, rising from Rs 4.3 lakh crore to Rs 15.01 lakh crore. The per capita income saw a 243 per cent growth, climbing from Rs 1,03,889 to Rs 3,56,564. Similarly, the capital expenditure grew by 578 per cent, from Rs 11,583 crore in 2014-15 to Rs 78,611 crore in 2023-24.

The installed power capacity increased by 106 per cent, from 9,470 MW to 19,519 MW. Per capita electricity consumption doubled from 1,151 units to 2,398 units over the decade-long-rule of BRS.

The former Finance Minister stated that these achievements reflected the BRS government’s ability to create and distribute wealth, while improving infrastructure, agriculture, and public welfare.

Harish Rao attributed Telangana’s transformation to massive investments in key projects like Kaleshwaram Lift Irrigation Scheme (Rs 94,000 crore), Mission Bhagiratha (Rs 28,000 crore), and Palamuru-Rangareddy Lift Irrigation Scheme (Rs 27,554 crore) among others, resulting in cultivation of over 80 lakh acres. Welfare programmes, including Rythu Bandhu (Rs 72,972 crore), free electricity (Rs 61,000 crore) and Aasara pensions (Rs 61,000 crore), also ensured direct benefits to citizens.

Further, irrigation facilities expanded by 105 per cent, providing water to 1.6 crore acres, while cultivated area grew by 47.74 per cent with paddy production surging by 119 per cent, from 91 lakh tonnes to 2 crore tonnes. During the period, government healthcare expenditure rose by 175 per cent, infant mortality dropped by 66.6 per cent, road length increased by 52.42 per cent, and forest area saw a 266 per cent growth. The BRS government also invested heavily on establishment of district-wise medical and nursing colleges, and 1,000 gurukuls to improve access to quality health services and education.

“Despite unprecedented growth in every sector, Congress continues its smear campaign. Telangana is not a bankrupt state but a beacon of growth and development, as evidenced by the RBI’s report. The Congress should stop misleading the people and focus on real governance,” Harish Rao suggested.