HYDERABAD: Union Minister of State for Finance Pankaj Chaudhary on Monday informed Lok Sabha that the off-Budget borrowings of the Telangana government reduced considerably since the time Congress was voted to power in the state.
During the Question Hour, the minister said that the off-budget borrowings declared by the state were Rs 35,258 crore in 2021-22, Rs 9,597 crore in 2022-23, Rs 2,546 crore in 2023-24 and Rs 2,697 crore in 2024-25.
Meanwhile, responding to a query raised by Congress MP Chamala Kiran Kumar Reddy, Pankaj Chaudhary said that the REC Limited has already granted a time extension for the completion of works until December, 2024 at the request of Kaleshwaram Irrigation Project Corporation (KIPCL).
The rebate on interest rate may be considered upon the completion/closure of the project, the REC informed the state government. However, any change in loan amortisation schedule would result in the downgrade of KIPCL’s account classification (from standard to Sub-standard) in the books of PFC/REC Ltd in accordance with the guidelines issued by the Reserve Bank of India, the Union Minister said.
No IIM in Hyderabad
Meanwhile, Warangal MP Kadiyam Kavya insisted on establishment of an IIM in Telangana, pointing out in Lok Sabha that Telangana remains the only state without such a premier institution, despite possessing adequate infrastructure and land.
Kavya sought to know if the Union government had received any proposal from Telangana and reasons behind the continued delay in establishing an IIM in Hyderabad. Responding to her query, Minister of State for Education Sukanta Majumdar clarified that no proposal for setting up an IIM in Hyderabad is under consideration by the ministry at present. He noted that India currently has 21 IIMs, including seven third-generation institutions established during 2015-2016.