Telangana government takes loan every year, it will land state into debt, says CLP leader

Telangana Congress Legislative Party (CLP) Leader Batti Vikramarka on Thursday said that the state government is taking around Rs 50,000 crores as loans every year and claimed that Telangana may land into a `debt trap` if this continues.

Hyderabad: Telangana Congress Legislative Party (CLP) Leader Batti Vikramarka on Thursday (March 18) said that the state government is taking around Rs 50,000 crores as loans every year and claimed that Telangana may land into a "debt trap" if this continues. 

"In 70 years in the combined Andhra Pradesh, the total loan amount was Rs 70,000 crores. But this Telangana Government, on the other hand, is taking around Rs 50,000 crores as loans every year. The state is already in Rs 3,50,000 crores debt and if this continues, then by 2023-2024 Telangana State would be in debt of Rs 5,50,000 crores," Vikramarka told ANI.

"This is going to add on a severe burden on the people of Telangana. If the state government takes loans over and again, the state will end up landing into a debt trap," he added.

Slamming the state government over the budget, the Congress leader said there is nothing for the common people in the budget.

"There has been no allotment of money for the ‘KG to PG’ scheme of the state government. Telangana Chief Minister K Chandrashekhar Rao, on one hand, said that the state government doesn't have any money due to COVID-19 when asked about the unemployment allowance scheme.

But on the other hand, his finance minister has presented a state budget of Rs 2,30,825.96 crores," Vikramarka said.