Hyderabad: Accusing the TRS government of increasing the debt burden on citizens with every passing day, TPCC president N. Uttam Kumar Reddy on Tuesday alleged that the government was mismanaging its finances by doubling the per capita debt.
The party decided to corner the government on this issue in the Assembly on Wednesday and also take a decision whether to bring no-confidence motions against the government and the Speaker. “With its utter mismanagement and immature approach, the TRS government has accumulated huge debts in just 21 months since it came to power. It increased the debts to Rs 83,845 crore in 2014-15 and debts got accumulated to Rs 100,707 crore in 2015-16,” Mr Uttam Kumar Reddy said.
TS inherited debts of Rs 61,710 crore at the time of its formation on June 2, 2014. With a population of 3.5 crore as per the 2011 Census, the per capita debt was Rs 17,626.72, he said. Referring to finance minister Etela Rajender’s statement that the state proposes to borrow another Rs 23,113 crore, Mr Reddy said, “This will increase the per capita debt in TS to Rs 35,373.72 while taking the total borrowings to Rs 1,23,821.49 crore.” “Besides the debts we inherited due to bifurcation of the state, by the end of 2016-17 the TRS government would be taking additional loans of more than Rs 62,111 crore,” he said.
