The pathetic state of Telangana’s finances has come to the fore once again in recent times. The central government’s inability to quickly respond or find a solution to the 1270 crores taken automatically by IT department with RBI consent is making matters worse for India’ youngest state.
Touted to be the richest state in India, this is no less an ignominy for the ruling government. With 2500 crores already earmarked for farm loan waiver, 1000 crores gone for salaries, sources say that even for a one crore grant, special secretary or CM are intervening to release funds.
Union finance ministry
The finance department officials are reportedly speaking four to five times a day with Union finance ministry who are only giving evasive replies, according to media reports. Fed up with the delay, the state is not in a position to allocate any funds even for Ramzan or Pushkaralu as promised earlier.
This
shows the negligence of centre in rescuing states in emergency and TS government cannot be fully blamed. TS has now
approached RBI to sell market bonds worth 1500 crore and raise the money
immediately. The state is hoping
for some respite soon but nothing is guaranteed yet.
