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Uttam foresees severe financial crisis
The main Opposition in the State Assembly, the Congress, cautioned the government against heavy borrowing it was resorting to since it came to power.Speaking on the Appropriation Bill on Tuesday, Telangana Pradesh Congress Committee (TPCC) president N Uttam Kumar Reddy said if the government did not take corrective measures
Hyderabad: The main Opposition in the State Assembly, the Congress, cautioned the government against heavy borrowing it was resorting to since it came to power.Speaking on the Appropriation Bill on Tuesday, Telangana Pradesh Congress Committee (TPCC) president N Uttam Kumar Reddy said if the government did not take corrective measures, it would plunge into a severe financial crisis. He said the State should put a cap on borrowings from financial institutions.
“The public debt outstanding increased to Rs 83,845 crore in 2014-15, then to Rs 1,00,708 crore in 2015-16 and this is all set to cross Rs 1,23,821 crore in 2016-17. It means that the State government borrowed Rs 22,134 crore in 2014-15 and another Rs 16,862 crore in 2015-16. He questioned the government for its failure to spend the expenditure incurred from the budget outlay.
As against the budget of Rs 1,00,637 crore in 2014-15, only Rs 62,000 crore was spent, he said. Similarly, the budget of Rs 1,15,689 crore for 2015-16 was revised to Rs 1,00,062 crore and only about Rs 82,000 crore had been spent so far, he said.
He also objected to the proposal to sell government lands to raise Rs 10,000 crore. Reddy said future generations would be left without any assets if the auctioning of the precious lands continued.
The TPCC Chief questioned the decision of the government to remove government orders from public domain. He ridiculed the claims of the TRS government of maintaining transparency in its administration.He alleged that all sections of the society, especially farmers, students, unemployed youth, SC, ST, BC and minority communities, employees and drought affected people, were disappointed with the performance of the TRS government.
