metro india news  I hyderabad

The Telangana Chief Minister A Revanth Reddy addressed the issue of the BRS government’s financial mismanagement, highlighting the unsustainable debt burden it has placed on the state. Reddy strongly criticized the high-interest loans taken by the BRS government and the resulting financial strain on the state's economy.

"The BRS government took loans at a high interest rate of 11.5 percent, which is absolutely unacceptable. Normally, governments secure loans with interest rates ranging between 2 to 4 percent. This grave mistake has resulted in an enormous financial burden for the state," said Revanth Reddy while speaking in Assembly on Saturday.

He pointed out that the Congress government is now paying an alarming Rs. 6,500 crore per month in interest alone for the over Rs 7 lakh crore debt accumulated by the BRS government. 

"If such a mistake had occurred in Gulf countries, those responsible would have been punished severely," he added. Delhi trips aimed at restructuring the huge debt burden

Reddy emphasized that during his multiple visits to New Delhi, he personally met with high-ranking officials in the Finance Ministry, requesting them to restructure the state’s debt and reduce the loan interest rate to around 7 percent. "Such a restructuring would significantly reduce the financial burden, saving thousands of crores per month," he explained.

Regarding the accusations from BRS MLAs about the Congress government allegedly borrowing Rs. 1.27 lakh crore in just one year, Reddy refuted these claims. "The total debt inherited by the Congress government from the BRS regime stands at Rs. 7.11 lakh crore. Even if we add the figures cited by Harish Rao, the total debt would amount to Rs. 8.38 lakh crore. However, the actual debt recorded by the Telangana government until just a few days ago stands at Rs. 7.22 lakh crore, which proves that the BRS allegations are false," he clarified.