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Unrealistic figures, debt will take down Telangana: Shabbir Ali
The Telangana government was obsessed with ‘unrealistic’ figures when it came to budget, stated the Leader of Opposition in Legislative Council Mohammed Ali Shabbir. He said that the spending was far less when compared with the original budget, which stood at more than Rs 1 lakh crore during the last two financial years.
Hyderabad: The Telangana government was obsessed with ‘unrealistic’ figures when it came to budget, stated the Leader of Opposition in Legislative Council Mohammed Ali Shabbir. He said that the spending was far less when compared with the original budget, which stood at more than Rs 1 lakh crore during the last two financial years.
Initiating the debate on TS Budget for 2016-17 in the Legislative Council on Wednesday, Ali pointed out that the budget for 2014-15 was Rs 1 lakh crore, while the actual spending was only Rs 62,000 crore. For 2015-16, it buget figure was reduced from the initial Rs 1,15,689 crore to Rs 1,00,062 crore, which was also admitted by Finance Minister E Rajender.
Shabbir Ali said not a single head under welfare sector, including SC, ST, BC or Minorities, registered 100 per cent spending during the last two years. He said it was meaningless to allocate huge funds and not spend them. "Why are you so obsessed with flashy figures like Rs 1 lakh crore.
Your claims of Telangana being the richest state in India has only caused damage," he said. Shabbir Ali also disputed the projections of Telangana achieving growth rate of 11.7 per cent. He said the figure was based only on advance estimates and not actuals. He said economists have projected the figure to be around 6 to 7 per cent and even the projection of 8.6 per cent national growth is being intensely debated by experts. He advised the State government to adopt a realistic approach while addressing financial matters.
The Congress leader strongly criticised TRS government's decision to borrow huge loans for Mission Bhagiratha, 2BHK Housing scheme and establishment of power plants. He said borrowing of Rs 40,000 crore for Mission Bhagiratha and Rs 15,000 crore for 2BHK Housing in a single year would violate the FRBM (Fiscal Responsibility and Budget Management) norms as both are non-revenue generating projects and there were no returns on capital amount.
The leader warned that the government that these borrowings could hurt the interests of the State in years to come. He said after the moratorium period of two years, Telangana would be forced to spend Rs 7,000 crore annually on interest and re-payments of these loans.
