Telangana State annual debt is 45000 crores: During the financial year ended March.
Telangana State annual debt is 45000 crores. Our state is running fast in the debts. This is beyond the expectations, of the government on a daily basis. During the financial year ended March (2020-21), the government’s debt was literally Rs 45,638 crore. The budget estimated for this is Rs 33,191 crore. This means that the state government has borrowed Rs 12,447 crore more than calculated.
On the other hand, we are paying an average of Rs 1,200 crore to Rs 1,300 crore per month on loans totaling Rs 3 lakh crore since the formation of Telangana (including corporations like Mission Bhagiratha, Mission Kakatiya, and Kaleswaram). As of the end of March, the government had paid Rs 16,010 crore to various banks and financial institutions.
However, it is also worth noting that this was recorded much higher than calculated. Thinking that Rs 14,615 crore would be sufficient for interest payments, an additional Rs 1,395 crore would have to be spent. On the other hand, subsidies to agriculture, self-employment schemes, and various public sector undertakings have been slashed by up to Rs 990 crore.
If the government does not calculate that it will spend Rs 10,555 crore for these only Rs 9,565 crore could be spent. While it is estimated to spend Rs 24,896 crore on salaries of government employees and staff there has been a slight decline in them.
It cost Rs 24,653 crore. However, the government has spent a bit more on pensions. Thinking 10,065 crores would be required for this, the CAG figures show that it would have to spend more than Rs 11,508 crore. Overall, the financial year ending March (2020-21) continued as thought, as usual.
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