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The public debt and borrowing of the Telangana government is within the limits of the Fiscal Responsibility and Budget Management (FRBM) Act, T Harish Rao, Minister for Finance, Government of Telangana, has said.
Participating in a discussion on the State budget for 2020-21 in the Assembly here on Thursday, Rao said the budget had focused on the ‘welfare’ of the people and ensured good investment allocations.
The loans will only be granted on the basis of the Gross State Domestic Product (GSDP) and if the FRBM limits were adhered to in the budget, he added.
Referring to investment, he said: “In the rate of investment, Telangana stands first in the country. As against 12 per cent rate of investment by the Centre, Telangana’s investment is at 30 per cent.’’
The State’s revenue growth rate in the last five years was higher then the previous 10-year period of the erstwhile undivided Andhra Pradesh, the minister said.
Telangana’s public debt is set to touch ₹2.29-lakh crore in 2020-21, up from an estimated ₹1.99-lakh crore in 2019-20.
It is poised to go up by nearly ₹31,000 crore in FY2021, an increase of 21 per cent over the current financial year, and will be 20.5 per cent of the GSDP.
The per capita debt of the State with a population of about 3.7 crore will work out to over ₹61,000 by the end of fiscal 2021.
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