The state government of Telangana stated that unnecessary restrictions placed by the Bharatiya Janata Party (BJP)-led federal government on Telangana caused a loss of more than Rs 40,000 crore in income that the state was expected to earn in 2022–2023. In order to fully inform the populace, he also made the decision to organise an assembly session for a week in December.
The CM also instructed the ministers of finance Harish Rao and legislative affairs Prashant Reddy to take action in this regard.
According to a statement from the Telangana government, the attitude of the union government, which is following absurd economic policies, has become a hindrance to the development and growth of the states.
The Center regularly declares a Fiscal Responsibility and Budget Management (FRBM) cap for every state. The FRBM ceiling for Telangana was set at Rs 54,000 crores at the start of the 2022–23 fiscal year. Telangana then created the budget expenditure. The FRBM limit for the state was abruptly lowered by the centre to Rs 39,000 crores.
Additionally, financially sound governments are qualified to use an additional 0.5 percent of the FRBM quota for fund mobilisation. Telangana, which is exhibiting strong economic growth, is denied a 0.5% extra credit facility because the state is being compelled to enact power reforms that are detrimental to farmers and agriculture.
This cost the state roughly 6,000 crores of rupees. Additionally, the centre halted the state’s receipt of non-budgetary funds of Rs 20,000 crore. Due to the center’s bad policies and actions, Telangana collectively did not receive close to Rs 40,000 crore.
A session of the legislature will be held in December to provide comprehensive information for the state and the nation since the Telangana government wants to bring this to light.
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