The Telangana Government has asked the Union Government to increase the limit on borrowings so that it can source funds from lending agencies for developmental works.

Reacting to the 14th Finance Commission labelling Telangana a ‘surplus’ State, Telangana Chief Minister K Chandrasekhara Rao has said that the panel’s rating had vindicated his stand that the region would be rich if Andhra Pradesh was divided.

“Yes, we are a rich State. It (the rating) was not a political decision. It was based on a scientific study based on financial parameters. I spoke to the Chief of Minister of Gujarat which was also declared a surplus State. We will tell the Centre that the States that excelled financially should not be punished,” he said.

Addressing a press conference here on Friday, a day after the Finance Commission came out it with its recommendations, the Chief Minister said the borrowing limit has been extended by Rs 4,000 crore to Rs 15,000 crore. “But we want this to be doubled,” he said.

Power position

On the power situation, he said there were no power cuts as yet. “We are buying 300 MW of power from the open market. We try our level best to maintain the status quo,” he said.

Blaming the Andhra Pradesh Government for not giving its rightful share from the power projects there, he said the neighbouring was not heeding advice from the Centre in this regard.

“The State faces a shortfall of 1,800 MW. This goes up to 1,900 MW in the peak situation. We are making arrangements to add about 1,800 MW in a year. By 2017, we will be able to provide power for 12 hours to farmers,” he said.

Tatas, Reliance investments

The Chief Minister said his decision to develop Yadagirigutta temple evoked good response from corporates. “I have got commitments of about Rs 300 crore from the corporate sector. Firms such as Tatas and Reliance have agreed to take part in the development of the temple area by setting up their facilities,” he said.

Related Topics
comment COMMENT NOW