Hyderabad: Congress legislature party (CLP) leader Mallu Bhatti Vikramarka said that going by he present trends, the state debt will reach Rs 5 lakh crore by 2023.
Speaking to the media on Monday, Mr Vikramarka said that without borrowing, the state government will not be able to pay salaries to its employees and will not be able to implement its welfare schemes. He said that intellectuals and others should be discussing this matter.
The CLP leader said that to create assets, governments should borrow but Chief Minister K. Chandrasekhar Rao is utilising the money for the benefit of the ruling party. He said his party will give PowerPoint presentations in all district headquarters to explain the state’s financial position to the people.
Mr Vikramarka said that the full Budget was Rs 36,000 crore less than the vote-on-account Budget and this has never happened in the history of the country.
He alleged that the Chief Minister is trying to escape from his failures and is passing the buck to the Centre.
To pay the salaries of government employees, fund welfare schemes, and pay interest on borrowings, Rs 1,28,000 crore are required. He said that the state government showed Rs 1.13 lakh crore as state revenue, and the money to be received by selling of lands is also shown as state revenue. He said if the state government borrows Rs 32,900 crore for capital expenditure, only Rs 9,000 crore will be available.
