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Hyderabad: Cash-strapped TS government intensifies hunt for funds to deal with crisis

Hyderabad: Cash-strapped TS government intensifies hunt for funds to deal with crisisCash-strapped TS government intensifies hunt for funds to deal with crisis
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. Senior officials are told to furnish the details within 24 hours of unutilised funds parked in the banks . The officials say that the government will withdraw all the available funds and use them in the current crisis time

Hyderabad: Telangana State government has intensified hunt for money for emergency needs in the lockdown period under the impact of coronavirus scare.

The State Finance department has sent urgent orders (UO) to all HDs ( Head Of the Departments), units officers, Corperations and Cooperative Societies to furnish the details of unutilised funds parked in the banks. It is estimated that more than Rs 2,000 crore funds were lying in the bank accounts.

State FInance Secretary K Ramakrishna Rao has instructed all the top officials to submit the details of funds which were deposited in current and savings accounts and also as fixed deposits in two banks.

Officials said that the Rural Development and Panchayat Raj, Education and Welfare departments mainly SC and ST and Minority departments received funds directly from the Union government and the State government also released amount on a quarterly basis.

The funds were being deposited in the accounts of HoDs, unit officers or district officials who have been given authority to utilise them at their discretion. The Finance Secretary asked all HoDs to furnish the details in 24 hours. All the Corporations and Societies were also instructed to send the balance of accounts at the earliest.

The officials said that the government will withdraw all the available funds and deposit in the State's treasury account and use them in the current crisis time. The available funds will be used mainly to strengthen medical infrastructure and also pay the salaries of government employees in the current month.

After imposing the lockdown, the State revenues fell down drastically in the State and if the lockdown continued till April-end, the State will plunge into deep economic crisis, officials said.

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