HYDERABAD: Telangana Congress spokesperson Syed Nizamuddin on Wednesday demanded the TRS govt release a white paper on the financial status of the state.
Addressing a press conference, Nizamuddin stated the financial position of Telangana was in dangerous form with large gap between earnings and expenditure. In order to fulfil electoral guarantees made via K Chandrasekhar Rao, the federal government needs 2.five lakh crore per 12 months. However, the present revenues were lower than 1.five lakh per annum.
“In addition to common expenditure, the spending of the state on a number of projects and in sectors will double from the 2019-20 fiscal. For instance, as towards 12,000 crore allocated for Rythu Bandhu scheme in 2018-19, the federal government will want 15,000 crore subsequent fiscal. Also, 24,000 crore might be needed to waive off crop loans as much as 1 lakh. Nearly, 25,000 crore might be wanted for social security pensions due to doubling of pension amount for all categories of beneficiaries and likewise addition of recent pensioners aged between 57 and 64 years," he stated. “Huge allocations are wanted for education, well being and circle of relatives welfare and other sectors. Expenditure on earnings and capital account will even upward thrust to almost 1.25 lakh crore per 12 months. Therefore, the overall budgetary requirement for Telangana might be just about 2.five lakh crore,” he stated, including that Telangana has a debt of over 2.five lakh crore and just about 15,000 crore was being paid as passion towards those loans.
"In absence of a finance minister, bureaucrats are preparing finances proposals. The situation does now not fit the credentials of a democracy," he said.“Since KCR claims that Telangana is revenue surplus, he must go ahead with a regular budget instead of a vote-on-account and without depending on central grants," he stated.
Addressing a press conference, Nizamuddin stated the financial position of Telangana was in dangerous form with large gap between earnings and expenditure. In order to fulfil electoral guarantees made via K Chandrasekhar Rao, the federal government needs 2.five lakh crore per 12 months. However, the present revenues were lower than 1.five lakh per annum.
“In addition to common expenditure, the spending of the state on a number of projects and in sectors will double from the 2019-20 fiscal. For instance, as towards 12,000 crore allocated for Rythu Bandhu scheme in 2018-19, the federal government will want 15,000 crore subsequent fiscal. Also, 24,000 crore might be needed to waive off crop loans as much as 1 lakh. Nearly, 25,000 crore might be wanted for social security pensions due to doubling of pension amount for all categories of beneficiaries and likewise addition of recent pensioners aged between 57 and 64 years," he stated. “Huge allocations are wanted for education, well being and circle of relatives welfare and other sectors. Expenditure on earnings and capital account will even upward thrust to almost 1.25 lakh crore per 12 months. Therefore, the overall budgetary requirement for Telangana might be just about 2.five lakh crore,” he stated, including that Telangana has a debt of over 2.five lakh crore and just about 15,000 crore was being paid as passion towards those loans.
"In absence of a finance minister, bureaucrats are preparing finances proposals. The situation does now not fit the credentials of a democracy," he said.“Since KCR claims that Telangana is revenue surplus, he must go ahead with a regular budget instead of a vote-on-account and without depending on central grants," he stated.
Cong demands white paper on T'gana finances
![Cong demands white paper on T'gana finances]()
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January 10, 2019
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