Revanth govt took Rs 80,500 crores loans: KTR

Hyderabad: BRS party working President KT Rama Rao on Wednesday alleged that a total of Rs 80,500 crores had been borrowed from the day Revanth Reddy assumed the charge as the Chief Minister of Telangana.

In a tweet, the BRS working president said that in 10 months, a record debt of Rs 80,500 crore expenditure had been incurred, but no election promise had been fulfilled and no new irrigation project had been constructed.

What is the debt that the Chief Minister is bringing? Whose pocket did Rs. 80,000 crores of money go,” he asked.

KT Rama Rao also asked the Chief Minister whether he was paying for the bills of big contractors, or he was bringing the debts for commissions.

During the BRS regime, the projects were constructed by taking loans and the infrastructure was increased with every penny. The decades of hardships had been solved with the loan taken by their government; he reminded.

The BRS working president said the State government had borrowed another Rs 1,000 crore from the RBI and it was announced by the RBI itself on Tuesday.

With this, the debt of the Revanth Reddy government has increased to Rs 74,495 crore in 315 days since it assumed office on December 7. Last month, the Revanth government had taken loans worth Rs 4,500 crore in three tranches. On the 1st of this month, it borrowed Rs 2,000 crore.

It has issued a bond for a period of 21 years and borrowed another Rs 1,000 crore. The Revanth government, which raises Rs. 5,000-6,000 crore of loans every month, has so far borrowed Rs 49,618 crore from the RBI alone. It has raised another Rs 25,000 crore of loans as guarantees to corporations and autonomous bodies,” KT Rama Rao disclosed.