Vinod Kumar holds CM responsible for economic downturn
At a press meet at Telangana Bhavan, Vinod Kumar dismissed the false claims made by the Chief Minister and his Cabinet colleagues regarding the previous BRS government's loans at high interest rates. He emphasized that Telangana, under the BRS regime, secured loans at the lowest interest rates among Southern States, contributing to a GSDP of Rs 16 lakh crore ($200 billion).
Hyderabad: Former MP and senior BRS leader B Vinod Kumar on Monday held Chief Minister A Revanth Reddy responsible for the economic downturn in Telangana within a short span of 10 months. He accused the Congress government of neglecting the State’s financial health, which witnessed significant growth under former Chief Minister K Chandrashekhar Rao.
Addressing a press meet at Telangana Bhavan here, Vinod Kumar rubbished the false propaganda of the Chief Minister and his Cabinet colleagues about the previous BRS government obtaining loans at huge interest rates. He pointed out that Telangana’s loans under the BRS regime were taken at the lowest interest rates among Southern States, leading to a GSDP of Rs 16 lakh crore, or $200 billion.
“A comparison of the interest payments on budgetary borrowings of the Southern States reveals that Telangana stood at the bottom with Rs 32,920 crore in 2022-23. But it is unclear as to how the Ministers arrived at the figure Rs 72,000 crore per annum on interest payments,” he said. He stated that the interest payments on budgetary borrowings as percentage of revenue receipts was 13.69 which was the second lowest after Karnataka among Southern States.
In contrast, Revanth Reddy had not taken any significant steps to stabilize the State’s financial position, with only liquor sales showing growth, while other revenues declined. He pointed out contradictions in Revanth Reddy’s speeches on economic policies. He blamed Revanth Reddy for failing to attract investments, citing the impact of real estate sector issues and HYDRAA demolitions. “Revanth Reddy speaks of turning Telangana into a trillion-dollar economy, but his governance doesn’t reflect that ambition,” Kumar said, urging the Congress government to stop “defaming Telangana” with poor economic policies.
