Congress Legislature Party (CLP) leader M Bhatti Vikramarka has alleged that Chief Minister K. Chandrasekhar Rao’s ‘financial mismanagement’ pushed the people of Telangana and their future generations into a huge debt trap.
Addressing a street-corner meeting at Ichoda village in Adilabad district on the second day of the 1,365-km Haath Se Haath Jodo padayatra on Friday, the CLP leader accused the BRS government of deceiving the common people by ‘weaving a web of lies.’
“More than ₹5 lakh crore of loans were borrowed by the BRS government on high interest rates, and there was no clarity on how, why, and where the money was spent,” he alleged.
He said, “The BRS government had presented 10 budgets in the last nine years of a cumulative size of ₹23.35 lakh crore. However, in reality, only ₹18 lakh crore had been spent, while the remaining ₹7.5 lakh crore was overstated.”
“Out of the actual spending, more than ₹5 crore was borrowed from various banks and financial institutions. These figures clearly show that the actual revenues of the Telangana government were only ₹13 lakh crore, and a major chunk came from the sale of liquor. There was no transparency or clarity on where the ₹18 lakh crore was spent,” he alleged.
The CLP leader was accorded a rousing welcome on his arrival at Madapur village late on Friday evening.