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Telangana Congress demands white paper on state finances

Press Trust of India  |  Hyderabad 

The Wednesday demanded a white paper on Telangana's financial position, claiming that a major crisis was looming large as over Rs 1 lakh crore deficit would be incurred annually if the electoral promises of ruling TRS were implemented.

In addition to regular expenses, the spending by the on several major heads would double from next financial year 2019-20, Committee told reporters here.

In order to fulfil the electoral promises, the TRS government would need about Rs.2.5 lakh crore per year. But, the present revenue from all sources was less than Rs. 1.5 lakh per annum. Therefore, there needs to be clarity on how this huge deficit of over Rs.1 lakh crore would be covered, he said.

He claimed that as against Rs 12,000 crore allocated in 2018-19 for the Rythu Bandhu (investment support scheme for farmers), the government would need Rs.15,000 crore next year as the ruling party had promised in the December 7 assembly elections to increase the assistance from Rs.8,000 to Rs. 10,000 per acre.

Similarly, about Rs. 24,000 crore would be needed to waive crop loans up to Rs one lakh.

Claiming that the states overall revenues were far behind the estimated expenditure, he said the "state government should clarify how it proposes to bridge this gap.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 09 2019. 22:25 IST