metro india news  I hyderabad

The Telangana Chief Minister A Revanth Reddy has strongly criticized the previous administration for burdening the state with over Rs 8 lakh crore in debt, which continues to rise every year.

The CM revealed that his government has already repaid Rs 1.53 lakh crore, including Rs 88,000 crore as principal and Rs 64,000 crore as interest in the last 15 months. He pointed out that projects undertaken by the past government came with an unreasonably high interest rate of 11 percent, while international agencies and banks were offering loans at much lower rates of 3-4 percent.

"I have traveled to New Delhi 32 times to negotiate debt restructuring at 5-6 percent interest. If successful, we can save Rs 500 crore per month, which can be used for public welfare and to pay retirement benefits to government employees," the CM said. He also highlighted that the previous administration left unpaid retirement benefits amounting to Rs 8,000 crore.

Appointment Letters to 922 Candidates During the 'Koluvula Panduga' programme held at Ravindra Bharathi on Thursday evening, the CM distributed appointment letters to 922 newly recruited candidates, including 500 compassionate appointments in the Panchayat Raj and Rural Development and Municipal Administration and Urban Development departments.