CM K Chandrasekhar Rao should quit following CAG’s findings: Telangana Congress president N Uttam Kumar Reddy

According to Reddy, the total debts of the state stood at Rs 2.65 lakh crore, which include Rs 1.80 lakh crore of loan outstanding and Rs 41.96 crore of loan guarantee outstanding.

Published: 06th April 2018 04:20 AM  |   Last Updated: 06th April 2018 04:20 AM   |  A+A-

By Express News Service

WARANGAL: With the CAG exposing the flaws in the state government’s balance-sheets, chief minister K Chandrasekhar Rao has lost the moral right to continue in his post and should resign immediately, state Congress president N Uttam Kumar Reddy has said.

Making a PowerPoint presentation on CAG’s findings at a meeting here on Thursday, the TPCC chief said,  “Because of the wrong policies pursued by the chief minister, the state has a debt of Rs 2.65 lakh crore. Today, each village has a debt of Rs 21 crore, each family Rs 2.65 lakh and each individual Rs 63,000,” he alleged.

“The CAG report is a clear indication of the way the state government has been functioning for the last four years. It was proclaimed to be revenue surplus when the reality is that it is mired deep in debt. We have been telling this for the last four years. We raised it in Assembly several times but the government diverted the issue. The CAG report has exposed TRS government’s false claims of surplus budget and borrowings.”

According to Reddy, the total debts of the state stood at Rs 2.65 lakh crore, which include Rs 1.80 lakh crore of loan outstanding and Rs 41.96 crore of loan guarantee outstanding. The state had a revenue deficit of Rs 5,392 crore but it was shown as Rs 386 crore surplus budget, he said.The CAG has clearly exposed the hollowness of claims being made by the chief minister on the state’s financial  situation, and the chief minister has been misleading the people with false  claims, the TPCC chief said.

Congress Legislature Party leader K Jana Reddy said the chief minister had not only misled the Assembly with false and manipulated figures but also cheated the people of the state by claiming that the state’s financial  status was good.The CAG report findings showed that the TRS  government had used inflated  figures to present a revenue surplus budget, he said.



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