Fund crunch necessitating capex cut: 2,000 files pending in TG Finance wing
In Short
Relief a far cry to many sections
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Fund crunch necessitating capex cut: 2,000 files pending in TG Finance wing
Hyderabad: Reflecting the gravity of deepening financial crisis in Telangana, over 2,000 files in the Finance Department are awaiting clearance for lack of adequate funds. Despite the state government’s repeated assurances implying that all is well and piecemeal release of funds, things have come to such a pass that capital expenditure may have to be slashed to clear the huge piles of uncleared bills pertaining to various sections.
Files pertaining to overseas scholarships, release of funds for outsourced employees, extension of retirement of some officials, release of retirement benefits to the government employees are pending. The government has been claiming that it is releasing funds every month to clear the pending bills.
However, the available financial resources seem to be too meagre to address the grievances of different sections, mainly students, employees in service, retired employees, and outsourced employees.
According to top officials, at least Rs 3,000 crore is required to clear all pending bills every month. However, the government is not in a position to release more than Rs 1,000 crore, which is not sufficient to clear all the pending bills.
“More than Rs 10,000 crore in dues are pending towards retirement benefits and government employees. The release of meagre funds is not sufficient even to clear the dues of 30 per cent of the employees every month. On top of that, new dues are added to the pending bills every month”, officials said.
The other big challenge is to clear the scholarships and fee reimbursement of the students. About Rs 8,000 crore in such bills have been pending for three years. Only a few bills generated over the last three years are being cleared in installments.
