The loans of the newly formed state Telangana augmented to 71 percent since 2014 as per the information presented in Rajya Sabha. The national average is 33 percent while the neighbouring state Andhra Pradesh’s debts increased by 32 percent. Congress leader K V P Ramchander Rao asked a written question seeking the debt details of the two Telugu states for the past three years. Responding to KVP’s question, Minister of State for Finance Arjun Ram Meghwal said that the 14th finance commission confirmed that all the states are adhering to the loan limit recommended by the 13th finance commission. He also said that the financial situations of the state in the country are dissimilar. The Finance commission also said that there are no states in the country with colossal debt burden. Uttar Pradesh tops the list with 4.22 lakh crores debt followed by Maharashtra with 3.90 lakh crores and West Bengal with 3.33 lakh crores.
[table “197” not found /]KCR iterated in the assembly that debt is not always bad and also said that It is not wrong to take loans for the development of the state. The Finance minister Etela Rajender earlier said that since the government is investing in flagship programmes and setting up infrastructure, the debt is bound to be more than the budget.
