Bhatti Vikramarka and Harish Rao Clash Over Telangana’s Debt Burden
Hyderabad.18.12.2024 : Telangana’s debt burden has sparked a fiery debate between Finance Minister Bhatti Vikramarka and former Finance Minister T. Harish Rao. Addressing concerns over the state’s financial management, Bhatti claimed that the debt reached ₹7 lakh crore by December 2023, while Harish Rao argued it was closer to ₹4 lakh crore.
Bhatti Vikramarka’s Claims on Telangana Debt
During a recent legislative session, Bhatti Vikramarka stated that the Congress-led government is committed to safeguarding public assets. He alleged that the previous BRS government mortgaged state assets for short-term gains. According to Bhatti, the government issued guarantees worth ₹51,277 crore as of November 30, with ₹51,891.44 crore already drawn.
Key figures shared by Bhatti Vikramarka:
- FRBM Loans: ₹52,118 crore raised between December 2022 and November 2023.
- Non-FRBM Loans: ₹61,991.14 crore borrowed by corporations and SPVs.
- PSU Loans Without Guarantees: ₹10,099 crore secured in the same period.
Bhatti emphasized that the Congress government adheres to Fiscal Responsibility and Budget Management (FRBM) limits while addressing outstanding dues from the previous administration.
Harish Rao’s Counterarguments
In his response, Harish Rao accused the Congress government of reckless borrowing, warning that total borrowings could reach ₹6.3 lakh crore by the end of its term. He highlighted that the BRS government raised ₹4.12 lakh crore over a decade, citing data from the Reserve Bank of India and the Comptroller and Auditor General (CAG).
Harish further criticized the current government for prioritizing debt repayment over developmental spending. He noted that the state allocated ₹66,000 crore in a single year for loan repayment, up from ₹6,200 crore annually under the BRS government.
Addressing Pending Dues
Bhatti Vikramarka defended the Congress government’s approach, emphasizing that ₹14,000 crore of pending bills from the previous government have been cleared. Additionally:
- Power Distribution Companies Dues: ₹11,000 crore resolved.
- Focus remains on settling over ₹40,000 crore in outstanding bills.
Bhatti asserted that the government is committed to economic stability and protecting public interests, unlike the alleged mismanagement under the BRS tenure.
Conclusion
The ongoing debate between Bhatti Vikramarka and Harish Rao over Telangana’s debt burden underscores the need for transparent financial governance. While Bhatti champions the Congress government’s fiscal prudence, Harish warns of potential long-term consequences of excessive borrowing.
For more updates on Bhatti Vikramarka and Telangana’s financial policies, stay tuned to SnapNews.in.
