Vinod Kumar slams Modi's statement on State's fiscal discipline

Hyderabad: Telangana State Planning Board Vice Chairman B Vinod Kumar on Friday said that Telangana government was following fiscal discipline by spending its debts on capital expenditure and setting an example for other states in the country.

Responding to the remarks made by the Prime Minister Narendra Modi in his speech on the motion of thanks on the President's Address, wherein he expressed concern that some states were not following fiscal discipline and the debts raised by them for short term gains would impact the future generations, thereby, risking the economic health of the nation.

Vinod said that the Telangana government was following financial discipline and was making its debts into assets for future generations. He said that the debts were being spent only on capital expenditure and this would double its value tenfold in the coming days. He further added that the state government brought loans for the construction of Kaleshwaram project, Palamuru-Rangareddy lift scheme, Yadadri and Bhadradri power projects, thus excellent results were possible in the state. He explained that crops were growing abundantly with the Kaleshwaram Project and Palamuru Rangareddy Lift Schemes.