High debts to hit development plans in Telangana
Telangana inherited a debt of nearly Rs 70,000 crore and has borrowed 60,000 of it
Hyderabad: The mounting debt burden of Telangana state has put a big question mark on the state government’s ambitious plans and projects over the next four years. The Telangana government, which inherited a debt of nearly Rs 70,000 crore from undivided Andhra Pradesh, has borrowed nearly Rs 60,000 crore in 15 months.
Of this, Rs 23,348 crore was secured through sale of bonds and nearly Rs 40,000 crore raised through various funding agencies at interest rates as high as 11 per cent in its desperate bid to mobilise funds for redesigning and completion of pending and existing irrigation projects, setting up mega power projects and creating global infrastructure facilities in Hyderabad, the Water Grid, Mission Kakatiya, 2 BHK houses for poor, etc.