HYDERABAD: Congress Legislative Party (CLP) leader Mallu Bhatti Vikramarka, reacting to the Budget, said the State government was going to enormously increase public debt. He said the Budget was far from reality and intended to trick people. Presenting a budget for Rs 2,30,825.96 crore while claiming that the State revenue has declined due to the Covid-19 crisis is farcical, he said.
Addressing a press conference at Gun Park along with other Congress MLAs, Bhatti said showing a fiscal deficit of Rs 45,509 crore meant taking sizable bank loans. “We have said in the past that the State government is trying to take more loans by amending the Fiscal Responsibility and Budget Management (FRBM) Act. They plan to make the fiscal deficit revenue Rs 50,000 crores. For the next three years, they will borrow Rs 1.5 lakh crore. Already Telangana State has a debt of Rs 3.5 lakh, and it would become Rs 5 lakh crore by 2023-2024,” he said.