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Telangana gets 1,561 crore more to spend on infra
The Central government has agreed to increase the borrowing capacity of the state by raising the FRBM (Fiscal Responsibility and Budget Management) limit by 0.25 per cent (a raise of Rs 1,561 crore).
Hyderabad: The Central government has agreed to increase the borrowing capacity of the state by raising the FRBM (Fiscal Responsibility and Budget Management) limit by 0.25 per cent (a raise of Rs 1,561 crore).
This will help the state get additional space to raise borrowings which may result in much needed government expenditure for capital projects/ infrastructure.
With this, the FRBM limit to the state this year would be increased to 3.50 per cent and will help fulfill the state’s target to get Rs 23,000 crore borrowings proposed for the 2016-17.
According to FRBM norms, the state can borrow up to three per cent of its gross state domestic product (GSDP).
Top official of the state finance department said the Centre had agreed to increase the borrowing limit as it was convinced with the state government’s financial performance.
The sources said the state government had accorded top priority to works and programmes like Irrigation projects, Mission Kakatiya and road development projects.
The total capital expenditure on these works was about Rs 15000 crore. The total expenditure incurred on the works in six months in Telangana was more than the money spent in a whole year in the undivided Andhra Pradesh, says the official.
However, he admitted that there has been some delay in clearing the dues pertaining to fee reimbursement and Arogyasri as during the last six months the focus has been mainly on capital expenditure.
He said during next six months, the government would pay special attention to clearing of dues of fee reimbursement, Arogyasri and other developmental activities.
