Mismanagement of TG finances exposed: Bandi

The Union Minister of State for Home Affairs, Bandi Sanjay Kumar, said, “The financial mismanagement in Telangana during BRS and Congress rule was exposed in the Assembly.”
In a statement issued here on Thursday, Sanjay said that from the formation of Telangana state to date, the irresponsible borrowings and policy failures of both the BRS and Congress Governments have driven the state towards bankruptcy. The truth was revealed today in the Legislative Assembly.
The government itself admitted that during 10 years of BRS rule, a debt of ?6,71,756 crore was incurred. Similarly, after just a year of Congress rule, the state has already accumulated debts exceeding ?1,27,000 crore, he said.
He said that due to the misrule of these two parties, Telangana has ended up with a massive debt of ?8 lakh crore, bankrupting the state and leaving its people impoverished. What was once a rich state has now reached a dire situation where new loans are being taken just to pay off the interest on earlier debts, he said.
Sanjay said the Congress is using the state’s financial crisis as an excuse to backtrack on its promises made during the Assembly elections.
Before coming to power, the current Chief Minister, Revanth Reddy, and Deputy Chief Minister, Mallu Bhatti Vikramarka, themselves had admitted at various public meetings that Telangana was already drowning in debt and facing severe financial problems. Despite this, they made lofty declarations that all six guarantees in the Congress manifesto would be implemented within 100 days.
To prevent this dire situation, the BJP urged intellectuals, public representatives, activists and all those who care for Telangana’s welfare to expose the failures of both the BRS and the Congress.