Telangana cannot develop without loans: KTR

Industries Minister K. Tarakarama Rao has strongly defended the loans taken by the State Government for various projects.

Addressing a press conference at TRS Legislature Party office on Tuesday, Ktr said that no State in the country could develop without taking loans. He dismissed the allegations of opposition parties of TRS Government pushing Telangana into a debt trap and said that the loans were not debt, but investments. He said that the loans were being taken under the FRBM norms. He said that India has assets of about 2.6 $ Trillion while Telangana's GSDP was of Rs. 6.54 lakh crore. Therefore, he said that Telangana was eligible to take more loans for various projects. He said as against the average debts of all States of 20.20%, Telangana's debts were to the tune of 17.14% of the GSDP. He said as against the budget of Rs. 1.35 lakh crore, neighbouring Andhra Pradesh has debts of Rs. 1.90 lakh crore. He accused the Congress party of misleading the people while leveling baseless allegations against the TRS Government.

Reacting to the BJP's claim on Central funds, Ktr said that the funds received by the Centre were State's share in Central schemes and there was nothing special about it. He said like all other States in the country, Telangana got its due share. On allegations of non-allocations of funds for double bed room housing scheme, Ktr said that the TRS Government was not answerable to the Congress party and it would give proper reply to the people at an appropriate time.

Ktr said that the budget was aimed at ensuring holistic integrated development of the State. He said that the Congress party leveled similar allegations after the presentation of previous budgets. Therefore, he asked the Congress leaders to first study the budget, visit villages for a reality check on development and then comment on the same.