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KTR defends budget, terms it holistic
Reacting to the Opposition parties’ criticism on the budget proposals for 2017-18, Minister for Municipal Administration and Urban Development K T Rama Rao said the government was forced to go in for borrowing money only to rectify the mistakes committed during the united Andhra Pradesh regime.
Hyderabad: Reacting to the Opposition parties’ criticism on the budget proposals for 2017-18, Minister for Municipal Administration and Urban Development K T Rama Rao said the government was forced to go in for borrowing money only to rectify the mistakes committed during the united Andhra Pradesh regime.
He said that the loans were in fact an investment for development, which would yield returns soon. Describing the budget as a balanced, holistic and one which is in the direction of integrated development, the Minister said that the budget focuses on streamlining the rural economy. “People who see it as loans will not understand the concept of budget. Congress is suffering from political bankruptcy,” he added.
The Minister pointed out that Telangana’s GSDP was Rs 6.54 lakh crore. He said that GSDP-debt ratio of Telangana was much better than other states with 17.4 per cent which is much less than the national average of 21.20%. States like West Bengal have highest rate- more than 50 per cent, he added.
He also found fault with the Congress party’s allegations that the government had to raise loans for the Rs 1.49 lakh crore in the state’s budget. He said Andhra Pradesh has a budget of Rs 1.35 lakh cr but raised Rs 1.90 lakh crore as loans, Karnataka has budget of Rs 1.63 lakh cr but had to raise Rs 1.75 lakh cr.
