Telangana govt. presents CAG report in assembly

The Telangana government on Tuesday presented Comptroller and Auditor General (CAG) statistics of the year 2019-20 in the assembly. It stated that with a 97 per cent of the deficit from market debt, the Telangana state has not achieved any revenue surplus for the first time in the last five years. And the debts were in the line with FRBM, it added.

The CAG released a report on the state's financial situation for the financial year 2019-2020.

The report added that the government has exceeded the limits of debt targets outside the budget. "Most of the loans taken in 2019-20 were used to pay off the past debts i.e. 75 per cent was used to pay off the debts. This had an impact on asset creation. Low amount was spent on education and medical in the year 2019-20. The government did not pay attention to asset creation in the year mentioned," the report stated.