Recession-hit TS to knock Centre's doors

Hyderabad: After the budget session of Assembly, the Telangana State Government will knock on the doors of the Centre seeking more financial assistance to overcome the impact of economic recession on the state.

State Finance department is preparing a detailed report on the impending financial burden on the state in the current financial year after slowdown in the economy.

Sources said that the government is planning to submit the report to the Union government soon.

State Finance Minister T Harish Rao in consultation with State Planning Board Vice-Chairman B Vinod Kumar and the officials of Finance wing will take up a detailed study of the Central assistance given to Telangana every year and the requirement of funds for this year.

The study report will be analysed by KCR before submitting it to the Centre. The demand to provide grants to the Kaleshwaram project, Mission Bhagiratha, Mission Kakatiya and other projects will be put forward before the Union Finance ministry.

Harish Rao is likely to meet the Union Finance Minister and other officials after the Assembly session. This will be followed by visit of Chief Minister K Chandrasekhar Rao to Delhi during first week of October.

The chief minister in his budget speech said, "the Centre had made a reduction in the funds that are to be transferred to the State. The Centre has cut 4.19 per cent in the State's share in Central taxes (devolution) this year."

Officials said that the state government had already projected Rs 19,718 crore as its share of central taxes and duties for Telangana this year. In 2018-19, it was estimated at Rs 17,960 crore.

The government is also planning to seek Rs 9,457 crore as loan from the Centre to meet the growing financial needs particularly for the implementation of welfare schemes for which the total expenditure is likely to be doubled after the enhancement of pensions and Rythu Bandhu scheme benefits.