Telangana Debt Rose Nine-Fold to Rs 8.21 Lakh Crore Under BRS, Says Mallu Bhatti Vikramarka
On Friday, Telangana Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka released data in Hyderabad showing that the state's debt burden increased nine-fold during the previous BRS government's tenure. According to the state government, Telangana's debt rose from Rs 90,161 crore in June 2014 to Rs 8,21,651 crore by December 2023.
Speaking in Hyderabad, Vikramarka accused the opposition BRS of misleading the public on the state's financial condition. He specifically criticized BRS leaders T. Harish Rao and K.T. Rama Rao for their remarks, stating they must answer whether the state needs to repay these debts or not.
Vikramarka detailed that the total liabilities of the BRS regime reached Rs 8,21,651 crore after accounting for borrowings within FRBM limits, loans raised by government corporations with state guarantees, pending employee dues, and discom liabilities. He alleged that reckless borrowing and corruption under the BRS government had severely weakened the state's financial system and that the present government was working to restore fiscal stability.
Addressing claims by Harish Rao that the BRS government had borrowed only Rs 3 lakh crore, Vikramarka questioned why such huge repayments had to be made through Reserve Bank of India transactions if that assertion was true. He also alleged that liabilities incurred for projects such as Kaleshwaram and Mission Bhagiratha were kept off the government's books by routing loans through corporations, though the repayment responsibility ultimately rested with the state exchequer.
Vikramarka also shared data on the current Congress-led government's financial management. He said the Congress government had borrowed Rs 1.77 lakh crore since assuming office in December 2023 but had already repaid Rs 2.08 lakh crore, including principal and interest, towards loans raised by the BRS government.
Additionally, Vikramarka addressed allegations made by the BRS regarding 40 lakh tonnes of missing coal from the Singareni Collieries Company Limited (SCCL). While dismissing the charge as baseless due to the company's advanced geo-fencing security system, he announced that the government has ordered a comprehensive inquiry by the SCCL director of vigilance to dispel any doubts.
