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TS Government to hold week-long Assembly session on Centre's policies
Telangana Assembly
- The objective of the session would be to focus on sanctions imposed by the Union government on progressing Telangana which has resulted in the reduction of more than Rs 40,000 crore in the state’s income
- However, the Centre later suddenly cut short the limit to Rs 39,000 crore which resulted in the state’s resources dropping by Rs 15,000 crores
Hyderabad: The Telangana government will hold a week-long session of the Assembly in December to discuss the irrational economic policies of the Centre.
The objective of the session would be to focus on sanctions imposed by the Union government on progressing Telangana which has resulted in the reduction of more than Rs 40,000 crore in the state's income in the FY 2022-2023 (Income tax rates for Financial Year).
The CMO also said that the Centre had fixed the borrowing limit of Telangana as per Fiscal Responsibility and Budget Management (FRBM) norms at Rs 54,000 crore at the beginning of the current financial year, based on which, the state government had framed its budget.
However, the Centre later suddenly cut short the limit to Rs 39,000 crore which resulted in the state's resources dropping by Rs 15,000 crores.
The FRBM limit was relaxed by 0.5 per cent for states which were financially sound but the Centre ensured that Telangana did not have access to the relaxation by laying down a condition that the facility would be extended only if it implemented power reforms.
The Telangana CMO hence claimed that the act was merely an anti-farmer and anti-agriculture step put forth by the Centre.
Telangana had lost Rs 6,000 crore failing the implementation of power reforms after the Centre stopped the release of Rs 21,000 crore, read a statement from the state.
The Centre's decision reportedly inflicted further loss by stopping the release of budget funds due to the state, amounting to Rs 20,000 crore leading to Telangana losing Rs 40,000 crore.
The Centre laying down conditions to stop funds to the state out of agreements made by the latter with various institutions for developmental programmes, constituted further damage.
However, the agencies recently released the money out of confidence that they reposed on the state government.
The officials swung into action to convince the agencies that the government would repay the loans after KCR got the alert on the Centre's motive.
The policies of the Centre were not regressive just to one state, but to the entire country which needs to be explained to people through the Assembly, read the statement.
