High Interest Loans Repayment Hindering Telangana Growth, Meets EAC-PM Mahendra Dev
Haydarabad: Prime Minister A. Revanth Redy has caused serious concerns about the increasing financial burden on the state government due to the high interest rates on loans inherited from the previous BRS administration. Prime Minister Economic Advisory Council President Prof.Dr. At a meeting with S. Mahandra Dev, CM mentioned the difficulty in paying the loan repayment that significantly prevented the development of the state.
Since the repayment of these debts consumed a significant portion of the revenues of these debts, he demanded cooperation on reducing the burden of these high interest rates and re -planning loans. He stressed that financial coercion limits the capacity of the state to invest in development and infrastructure projects.
Revanth Redy emphasized the importance of maintaining mutual respect among the federal system among the Union and State governments. He stressed that the progress of the country depends on the development of their states. It also provided an update about the rapid growth and progress of TaLangana under its leadership.
Revanth Reddy, Prof.Dr. He reported that the state’s income was spent to serve loans to a large extent and left very little space for developmental activities. He also discussed the attempts of the government to develop urban infrastructure, especially in Haydarabad and to create employment opportunities through skill development program.
The meeting mentioned the state’s industrial development plans and the growth of the service sector. Revanth Redy filed a strong lawsuit for the construction of a regional ring road around Haydarabad, along with radial roads to improve commitment and alleviate traffic congestion.
At the meeting, the principal, finance secretary Sandep Kumar Sultania is also ready.
GFX
Big problem
• At the budget session in March, CM Revanth Redy said that 1.58 Lakh Crore loans received by the Congress government within 15 months went to the BRS government debts of approximately 1.53 Lakh Crore.
• When the Congress took office on 7 December 2023, Tahangana’s debt is 8,19.151 RS.
• This includes 6,69.257 Crore in loans, 40,154 RS in waiting invoices, and 1,09.740 RS in additional obligations.
• Additional obligations include the obligations of the discs, the Singerane Koleies and SC/ST sub -plan accumulation.
• Unpaid retirement aid of RS 8,000 Crore employees.
• Congress government from 2023 to February 2025 borrowed 1,58,041 RS
RS 88.591 Crore, 64,768 RS for interest payments, went to repay the main amounts.
Quotation
“These figures show that the actual debt undertaken by our government is only 4,682 RS, because the majority of borrowings were used to solve the BRS period loans. While providing financial stability for TaLangana, we have systematically recovered BRS government’s debts.”
– Revanth Reddy
– Prime Minister, in March in March
