KCR pushing TS into debt: Uttam
Nalgonda MP and former Telangana Pradesh Committee (TPCC) president N. Uttam Kumar Reddy predicted that the state was heading for a major financial crisis in the next few months and the government might not be able to pay salaries and pensions.
Addressing a series of meetings in different villages in the Huzurnagar Assembly constituency in the Suryapet district on the 10th day of the Rachabanda on Monday, Uttam Kumar Reddy said the TRS government might not be left with any funds to pay for Rythu Bandhu in the next cropping season as the state’s exchequer was almost empty.
Accusing Chief Minister K. Chandrashekar Rao of mishandling the state’s finances, he said the TRS government never adopted a realistic approach to maintaining a balance between the actual revenues and expenditure.
“The Chief Minister has been making false claims for the last eight years that Telangana has become the richest state in the country. But in reality, Telangana is being pushed into a huge debt trap. To inflate the growth figures, even loans were shown as income. This was pointed out not only by the Comptroller and Auditor General of India (CAG) in various reports but was also exposed by the
15th Finance Commission. Instead of taking corrective measures, the Chief Minister kept on lying about growth figures. Consequently, Reserve Bank of India has imposed a ban on TS from taking fresh loans in the current financial year,” he said.
Referring to the CAG's audit figures for the year
2021-22, Uttam Kumar Reddy said the TRS government had been using speculative figures in the budget to mislead people. While the state government estimated the revenues for 2021-22 to be `1,76,126.c4 Crore, the actual revenues up to March 2022 were just `1,27,468.54 crore. Therefore, a whopping amount of `48,658 crore was included to inflate the figures and show a high growth rate, he said.
During his interaction with the farmers and other villagers, he explained the promises made in the Warangal Declaration unveiled by Congress leader Rahul Gandhi on May 6. In the last 10 days, Uttam Kumar Reddy covered 64 villages and one municipality spread across three Assembly constituencies in Nalgonda parliamentary segment.