Unable to spend even Rs.500 crore a month towards capital expenditure, admits Revanth Reddy
The Chief Minister stated that Telangana's monthly revenue stands at Rs 18,500 crore. Out of this, Rs 6,500 crore is allocated for salaries and pensions, while another Rs 6,500 crore is used for loan repayments and interest. This leaves only Rs 5,500 crore for welfare and development, he explained at the India Today Conclave in New Delhi on Friday
Hyderabad: A day after announcing the plans to develop Future City in 30,000 acres, Chief Minister A Revanth Reddy admitted that State government was finding it tough to spend even Rs. 500 crore a month towards capital expenditure.
He said Telangana’s monthly income was Rs.18,500 crore. Of these, Rs.6,500 crore were being spent towards salaries and pensions and Rs.6,500 crore for loans and interests payments. Only Rs.5,500 crore were left for welfare and development, the Chief Minister explained at India Today’s conclave in New Delhi on Friday.
When pointed out that Telangana was reeling under fiscal deficit and it had pledged Rs.50,000 crore in 2024 for guarantees. The Deputy Chief Minister also announced that another Rs.80,000 crore was being raised as market debt, the Chief Minister said that the race has to continue.
Given the financial situation and how the guarantees would be implemented, the Chief Minister replied that he was not able to pay for the loans but not for implementation of guarantees.
On being asked about Congress high command pointing fingers over his bonhomie with the Prime Minister, Revanth Reddy disclosed “I have good relations with Modiji. There are issues only with policies not individually. It is my responsibility to respect the Prime Minister and seek funds for Telangana,”
Over declining Gautam Adani’s Rs.100 crore donations to Skill University, the Chief Minister said the Congress party did not raise any objection but the opposition parties BRS and BJP did. As a result, the donations were declined, he explained.
The Chief Minister also said that a representation was submitted to union Sports Minister Mansukh Mandviya to host 2036 Olympics in Hyderabad, citing better infrastructure.
“Hyderabad will host Miss World competitions in May. When Miss World competitions can be held in our city why not Olympics,” Revanth Reddy asked.
He accused the Prime Minister of diverting the prospective investors to Gujarat. Investors were being given undue advantage for investing in Gujarat’s Gift city but the same was not being extended to Hyderabad, he charged.
Unlike the Gujarat model, Telangana model was all about welfare and development, besides good governance. Does Ahmedabad have an Outer Ring Road and does Gujarat secure pharma and IT investments like Hyderabad, he asked.
Stating that BJP wanted to seek revenge over Southern States, the Chief Minister said delimitation of parliamentary constituencies was being used as a weapon. Why the union Government was not organizing an all-party meeting to discuss the issue, he asked.
On the charge that caste census conducted in Telangana was triggering frictions between the communities, the Chief Minister countered what was wrong in extending reservations based on castes and their population.
Defending the one-hour relaxation being extended to Muslim government employees during Ramzan in Telangana, he said similar relaxations were being offered during Dasara. People visiting Tirupati were also being offered incentives, he added.
