Hyderabad: Expressing doubts about the Gross State Domestic Production figures sent by the Telangana state government, the Union ministry of statistics and programme implementation has sought further details to finalise the market loans that the state can borrow in the current financial year.
In a letter to the state government, additional director general of the ministry of statistical and programme implementation, Subrata Dhar, wrote: “The complete data was received from TS, though significant entries were found missing in the data.” He said that the state Budget data is being examined for possible economic and purpose classification errors.
The state government had sent particulars of its GSDP to the Union finance ministry on the basis of which market borrowing limit for the current financial year would be fixed.
State finance department officials went to Delhi and discussed this issue with finance ministry officials, and requested that the borrowing limit be fixed at the rate of 3.5 per cent of GSDP for the current financial year. The state government also wanted that the market borrowing limit be fixed without linking it with other states.
The Union finance ministry has given provisional approval to TS to make market borrowings on the basis of the previous year’s GSDP.
In the previous year, TS was allowed to make market borrowings of Rs 18,000 crore. Since this year the state has shown a much higher GDP, state finance department officials estimated that they will get permission to borrow Rs 24,000 crore.
But the Central government has expressed some doubts about the GSDP data submitted. In his letter to the TS government, Mr Dhar said that the TS Budget data was received for the first time for the years 2014-15 actual, and 2015-16 revised budget estimates, on January 31, 2017.
However, only 10 months data (June to March) for 2014-15 actual was made available, which was incorporated in the first revised estimates pertaining to the government sector.
He said that the complete data for 2014-15 was received from the TS government on May 19, 2017, and significant entries were found missing in the data.
Some TRS MPs met officials from the Union finance ministry on this issue. Sources said that the Union finance ministry made it clear that it is not possible to fix and permit market borrowings for TS alone.
They said Telangana state’s market borrowing limit for the year 2017-18 will be announced along with that of other states.
