Per Capita burden: Debt per head on each Telanganaite is Rs 88,068

By Newsmeter Network  Published on  10 Sep 2019 4:27 AM GMT
Per Capita burden: Debt per head on each Telanganaite is Rs 88,068

Hyderabad: Per capita debt of every Telanganite has mounted up to Rs 73,042 and it is likely to touch Rs 88,068. However, this will increase by Rs 15,026 per head as the overall debt brought from out of budget due to irrigation projects, Mission Bhagirata and other schemes have increased. Overall debt of the State of Telangana has reached Rs 2.03 lakh crore indicating the how deep the State has stuck in debt crisis. The total debt will reach Rs 3.1 lakh crore by 2020 March taking per capita debt to Rs 88,068.

The total debt is divided with the State population of 3.52 crore to arrive at per-capita debt. The debt that was 20.04 per cent of GDP in 2016-17 is likely to be increased to 21.39 per cent in 2019-20.

Telangana government has taken Rs 32,130 crore for irrigation projects, Rs 23,014 crore for Mission Bhagiratha and Rs 22,170 crore for other schemes. A total of Rs 77,314 crore was borrowed outside the budget for the KCR dream schemes.

The interest burden of the State is also increased. The State has earmarked Rs 14574 crore for interests on loans in the 2019-20 budget. Interests on loans were Rs 10,835 crore in 2017-18.

Meanwhile, K Chandrashekara Rao has decreased irrigation budget by Rs 16,000 crore when compared to last year.

State government allotted Rs 25,000 crore in 2018-19 for irrigation, and it has decreased Rs 8490 crore in 2019-20.

The per capita income of the State has touched Rs 2 lakh seeing a growth rate of 13.8 per cent. The state government has also decided to auction land for raising Rs 1000 crore for completing the projects.

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