Debts will reach 5Lakh crores by next year
Hyderabad, February6
The statistics released recently by the RBI, CAG reports that have already been given do not match the debt calculations of the state government in the budget raises these doubts. In the past eight years, the debt burden on Telangana has increased significantly. At the time of state formation the debt of Rs.67000 crores, It has already crossed 4lakh crores. The state government has mentioned in the new budget that it will take loans of Rs.45 thousand crores in the next financial year. It reported to the Assemly that the total debt will reach Rs.3.57 lakh crores. In addition to these, there are non-budgetary debts of Rs.1.35 lakh crore. There are opinions that the debt burden has increased because the government has set up corporations and raised debts without showing them in the budget. If these are added together, the amount of debt will reach Rs.5 lakh by next year.
In last year’s 2020–21 report of the CAG, the total debt of the Telangana government was Rs. 2.75 lakh crore. But in the latest budget brief, the debt as of March 2021 has been shown to be only Rs. 2.44 lakh crores. The RBI has recently stated in its report that the state’s debt is steadily increasing. It mentioned that market loans taken under FRBM will reach Rs.3.66 lakh crore by March 2023. But in the budget in brief, the government has shown it as Rs. 3.22 lakh crore. The Center has imposed restrictions on guarantees taken on behalf of corporations for non-compliance with financial discipline. That is why doubts are being expressed from the political circles whether the government has given wrong calculations on the debts. In fact, debt should be less than 25 percent of GSDP. The government has stated in the new budget books that the debt is 23.8 percent. But if the debts taken outside the budget are taken into account, these are likely to increase.
Debt intrests, EMIs Rs. 3000 crore per month
The state government will pay a large amount for the EMI payments and interest on previous loans. Rs.35,113 crore has been proposed for them in the budget. In this, you have to pay the installment amount along with the interest every month. 22,407 should be paid every month for interest. 12,706 crores will be paid under Public Debt Repayment. In this way, almost 3000 crores of rupees have to be paid under installments and interest payments every month.
