Telangana: Special Assembly session to discuss Centre's apathy

Telangana State Assembly

Telangana State Assembly


KCR garnering info to corner Modi govt on borrowings

Hyderabad: A special session of the Telangana State Assembly is likely to be held during the last week of May to discuss Union government's 'vindictive' politics towards Telangana.

Chief Minister K Chandrashekar Rao has instructed the officials to make necessary arrangements for the conduct of special session. The Chief Minister will make a detailed statement on "Centre's discrimination against the State and how it was creating hurdles even in going in for institutional borrowings stating that the government had exceeded FRBM limit." After a discussion on the issue, the Assembly will adopt a resolution asking the Modi government at the Centre to stop discrimination and permit the State to raise loans. The government had projected Rs 53,990 crore as open market loans in the 2022 budget outlay. The State was planning to borrow Rs 4,000 crore every month by selling security bonds through RBI.

It may be mentioned here that the Union Finance Ministry had objected to the Telangana government seeking loans through corporations and security bonds. The Centre also raised questions on the increasing debt burden. It also wanted to know why the State government had to take huge loans on behalf of corporations with the government guarantee.

It is said that the CM is compiling the data of borrowings by the BJP-ruled States and the Centre's restrictions on the non-BJP ruled States. This would be part of the Assembly resolution.

Meanwhile, the State Finance department is taking legal action against the Centre on the issue of borrowings. The other options, if any, will also be explored to find a solution at the earliest, officials said.

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