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TRS pushed Telangana into debt trap: Congress
Telangana Pradesh Congress Committee (TPCC) president N Uttam Kumar Reddy on Wednesday said that the TRS government had pushed the State into a “deep debt trap” during its two-year rule.
Hyderabad: Telangana Pradesh Congress Committee (TPCC) president N Uttam Kumar Reddy on Wednesday said that the TRS government had pushed the State into a “deep debt trap” during its two-year rule.
“In the last 60 years, the outstanding debt in united Andhra Pradesh was Rs 69,000 crore. The debt has doubled to nearly Rs 1.25 lakh crore in the last two years under the TRS government rule. All works like irrigation projects, Mission Bhagiratha and other schemes have been taken up by the government by borrowing funds from various agencies. The misuse of these funds is also high,” he said.
Reddy said that the State would plunge into a deep financial crisis in the coming days. “The Congress protected the financial interests of Telangana during the bifurcation of the State. After the TRS came to power, the financially-surplus State has turned into a debt-ridden State,” he said.
He alleged that Chief Minister K Chandrashekar Rao’s government threw to the winds all standard procedures in the tendering system while awarding works, thereby resulting in crores of rupees being siphoned off by the contractors in collusion with party leaders.
Party official spokesperson D Sravan said that KCR’s rule was like that of functioning of an event management firm rather than a disciplined government.
