HYDERABAD: Stating that Telangana’s outstanding liability has increased from Rs 69,000 crore at the time of State formation to Rs 3.12 lakh crore in a span of over seven years, Nalgonda MP N Uttam Kumar Reddy on Monday accused Chief Minister K Chandrasekhar Rao of turning Telangana into a bankrupt State.
Reacting to Union Finance Minister Nirmala Sitharaman releasing state-wise debts in a reply to a question in the Parliament, the Congress leader said: “The Per Capita Debt of Telangana at the time of its formation was about Rs 18,157.
If we also take into account the loans procured through various public sector companies, Special Purpose Vehicles (SPVs) and other equivalent instruments of the State government, then the overall debts of Telangana stand at more than Rs 4 lakh crore.
This takes the Per Capita Debt to over Rs 1 lakh,” he said. Stating that the TRS government has been cheating the people of Telangana, the RBI and also the borrowing institutions by showing inflated growth figures, he said that the Comptroller General of India (CAG) has pointed out several times that the State government was showing loans as revenue.