Telangana CM KCR terms Centre's stimulus package a 'big bogus'

Hyderabad: Chief Minister K Chandrashekar Rao termed the Rs 20 lakh crore stimulus package announced by the Union government was a 'big bogus' and the Centre's approachment towards states is 'feudal '. The preconditions prescribed to avail the benefit of the enhanced FRBM limit under the package was totally against the spirit of cooperative federalism, the CM said.

Briefing the press after the cabinet meeting, he said that the Centre has lost conscience and is moving in an irresponsible manner during the crisis time. The union government should have come to the rescue of the states which are starved of funds to meet the expenses. Instead, the Centre was putting unviable conditions on the states to borrow loans from the institutions.

" I really feel pained as the package has nothing to give the states . Noted world economic organisations also have blamed the Centre for its failure in announcing a good financial package " , KCR said that Centre was trying to make states as beggars by depriving their share of money from the tax collections.

KCR made it clear that State government will not succumb to the Centre's pressure to seek the benefit of the enhanced FRBM limit. The government is against power reforms and hike in taxes in municipal bodies for more loans. The state will have its own policy to overcome the financial crisis, he added.